Voya’s Reinhard Discusses Election Outcomes On The Markets
CNBC reports on its website that Voya Investment Management Head of Asset Allocation Barbara Reinhard appeared on the network’s program “Squawk Box” along with Cornerstone Macro Policy Head Of The Market Research Team Donald Schneider “to discuss the potential impact of various election outcomes on the markets.” During the appearance, Reinhard said any losses that occur as a result of Biden’s tax plan going into effect, should he win, “would be more than offset by the stimulus program and the funding that he is going to” spend “to fight the coronavirus.” She added, “I do think” that a Biden victory “over the longer term, it’s probably going to be close to a wash over ... the next four-year period. But I think the economy is in desperate need right now of an extra stimulus plan and I think, also, a comprehensive plan to combat coronavirus.” Reinhard also said that the markets typically experience instability if an incumbent loses a reelection bid, but typically recover four to six weeks after the victor’s inauguration.