U.S. Election: What You Need to Know

Defying the betting odds and pollster predictions, Donald Trump has pulled off an improbable victory. As an “unknown unknown,” Trump’s election introduces a level of policy uncertainty. Republicans hold the majority in Congress, but President-elect Trump will have to spend his early days building bridges to gain support for his agenda. Whether the Trump victory impacts the Federal Reserve’s decision on interest rates next month will be a function of the global financial market volatility: a significant and prolonged period of heightened volatility may keep the Fed on hold.