Market Commentary 8/18/20
An Oxford Harriman & Company Commentary
Last week economic data was mixed and the impasse between lawmakers and the new stimulus deal continued.
Kamala Harris was announced at Biden’s VP pick and we believe this was a non-event for the markets as she is viewed as shifting the Biden ticket more towards the middle as compared to some of his other potential choices.
We are keeping a close eye on inflation. A meaningful increase in inflation could cause the Fed to become hawkish.
Also, increased inflation could cause the dollar to rise, and it could also force the government to curb spending as the cost to service U.S. debt would increase.
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