Cost of living crisis kicks off the Harris, Trump debate

Published On Sep 10, 2024, 6:59 PM

The recent presidential debate between former President Donald Trump and Vice President Kamala Harris addressed the pressing issue of the cost-of-living crisis, particularly focusing on inflation and affordable housing. Harris emphasized her plan to support working-class families, proposing an expansion of the child tax credit and tax deductions for new businesses. Trump criticized the current administration's handling of inflation, claiming it has worsened under their leadership compared to his presidency. He pointed out the significant rise in everyday expenses and the pressing economic challenges Americans face, claiming the inflation rate is historically high. The debate highlighted the ongoing economic concerns and differing solutions proposed by the two candidates, setting a stage for the upcoming election as economic performance remains a central topic for voters.

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Stock Forecasts

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Positive

Given the focus on economic issues such as inflation and housing during the debate, investors might consider sectors responsive to economic policies, such as real estate and consumer goods. If Harris's propositions gain traction, there could be positive movement in stocks related to affordable housing and construction.

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Positive

Conversely, if Trump's argument regarding inflation resonates with voters, particularly those feeling the squeeze from rising costs, defensive sectors may benefit as investors flock to safer assets, such as consumer staples or utilities, in anticipation of potential economic downturns.

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