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16/10/2024
US Presidential Elections - Analysis by Françoise Maret, Senior Advisory Portfolio Manager

Every four years, Americans elect their president and 2024 is an election year, albeit one that is clearly unusual in its circumstances.

 

The people will have to choose between former President Donald Trump and current Vice president Kamala Harris. Besides the obvious support of their respective partners, there have been numerous endorsement on both sides. On the one hand, the Democratic nominee has managed to get the endorsement of numerous prominent Republicans, labour leaders, religious and entertainment personalities while on the other hand, the republican candidate has been endorsed by a wide array of religious, political and business leaders, including the richest man in the world, Elon Musk.

 

Economy is one of the issues that most worries Americans. US economic growth is slowing down, with unemployment remaining low, albeit higher than at the beginning of the year. The US central bank, the Federal reserve Bank (Fed), has plenty of room to cut rates if necessary and has deemed inflation to be under control. Nonetheless, 60% of Americans believe the US to be in a recession (Gallup, 2024).