Wall Street did not wait for President Donald Trump to surrender. Executives have begun to focus on the business prospects of the Joe Biden administration.
We are ready to cooperate with this government, just like the company’s cooperation with previous governments in its 200-year history, Bank of America CEO Brian Moynihan said at the opening ceremony of the company’s Future of Financials 2020 video conference on Monday. He congratulated Biden and his running partner Kamala Harris on their victory. We look forward to dealing with major problems facing the world.
Although Trump has not acknowledged that Biden’s victory and continued challenges may lead to delays in the transitional work process, large American companies are looking forward. JPMorgan Chase CEO Jamie Dimon issued a statement on Saturday that Americans must respect the decisions of voters and support the peaceful transfer of power.
Goldman Sachs Chief Financial Officer Stephen Scherr said at the meeting that the predictability of the political situation in the United States has increased after Biden’s victory, but the two-party division of Congress may result in fiscal stimulus less than the Democratic Party’s victory. He also said that the election results also raised questions about the speed and extent of tax policy adjustments.
Considering that the president-elect has served in the Senate for a long time, even in a divided government, there may still be a higher degree of cooperation. I think the market will make a positive interpretation of this, Scherr said. He also pointed out that the impact of political factors on the economy will retreat to the new crown epidemic and the progress of vaccine research and development.
Biden is advancing plans to respond to the new crown epidemic and form a government team, aimed at declaring and strengthening his leadership of the White House. To a large extent, Biden ignored Trump’s efforts to weaken the momentum of his victory, and announced an outbreak response team on Monday.
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