Weighing the Impact of the 2020 U.S. Presidential Election

Over time, the stock market responds more to long-term earnings and economic growth trends—not to changes in political leadership.

The emotional gravity of an election—and in particular this one—may make it appear as though the outcome will make or break the nation. But we think this mindset places far too much emphasis on political figures and policies and far too little emphasis on business leaders, innovators, entrepreneurs, and American citizens and families. Politics gets all the attention, but we are the true drivers of the U.S. economy.