The big news this week was President Trump’s impeachment proceedings. But how will all that affect the economy and our everyday lives and personal finances? As a nonprofit credit counseling agency, ACCC is curious to know. Let’s take a look at the latest impeachment news to learn more about its impact.
Latest Impeachment News Headlines About The Economy
The first article by USA Today takes the reader through previous impeachments and their impacts on the markets. In addition, there are several interviews with economists on their predictions. The overall sense is that it could go any direction- or none at all! While some financial experts expect the impeachment hearings to drag the confidence of investors down, other experts see little to no impact. Our credit counseling advice is to research different perspectives.
Here is the full article:
“Stocks shrug off Trump’s impeachment, but could this be different from Clinton, Nixon sagas?” by USA Today
Next, is an article from CNBC about how the stock market performed yesterday (“S&P 500 rises, tops 3,200 for the first time as investors ignore Trump’s impeachment”)! By all accounts, the latest impeachment news had no affect. Check out this excerpt:
“Wall Street was able to look past President Donald Trump’s impeachment in the House since the odds of the Republican-led Senate convicting him are so slim. “It’s fairly obvious that there just not going to be a removal,” remarked one investor on Thursday. Meanwhile, the disappointing jobless claims and business conditions data from the Philadelphia Federal Reserve did not deter investors from thinking the U.S. economy is still strong. Bottom line, the biggest obstacles the market faced throughout 2019 have subsided for now.“
As we head into the new year, keep an eye out for more on the impeachment and economy to better manage your personal finances.
If you are struggling to pay off debt, ACCC can help. Sign up for a free credit counseling session with us today!