by Joy Wiltermuth on November 4, 2020
Jeanette Garretty discusses the economic outlook in the midst of election returns. Garretty believes there is still uncertainty of the outcome, and investor focus will go back to the economy and the pandemic.
“There seemed to be an expectation that there might be a blue wave,” said Jeanette Garretty, chief economist at Robertson Stephens, in an interview, pointing to a scenario where Democrats sweep the White House, carve out a majority in the Senate and maintain control of their majority in the House, to promote a sweeping stimulus.
“That is clearly not happening,” she said of a Democratic clean sweep. In her view, that means the focus for investors now goes back to the economy and the pandemic “irrespective of what the Electoral College count is in the morning.”
“Until we get the virus in hand — and the virus isn’t in hand — there will be ongoing problems with the economy,” she said.
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