“He’s Our President, But Your Problem”
What Official Institutions May Expect From Trump
Just weeks after the elections, we lack any certainty on the specific policymaking of a Trump administration and an allied Congress. However, we can consider the basic thrust of his campaign and recent declarations as a starting point. The implications for the real economy as well as financial markets are being debated elsewhere, but we would like to focus on potential consequences for policy-making institutions across the globe, particularly those with responsibilities of managing public assets. Our thoughts below mainly suggest the Trump era would primarily bring additional challenges in the form of accelerated US monetary tightening and more volatile capital flows, though there could be some limited positive spill over effects from a boost to US economic growth.