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Odd Lots

A Political Reporter Argues That Wall Street Doesn't Get DC

Odd Lots

Bloomberg

Business News, News, News Commentary, Business, Investing

4.52K Ratings

🗓️ 12 November 2020

⏱️ 44 minutes

🧾️ Download transcript

Summary

Investors have always had to pay attention to what's going on in Washington DC, but this year it's been on a whole new level. Between virus response policy, fiscal stimulus talks, and, of course, the recent election, there's been a huge demand for understanding of politics. On this episode, we speak with Jake Sherman, a reporter from Politico, who argues that investors are badly confused about how the city really works.

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Transcript

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0:00.0

Together we have the opportunity to build a more sustainable and inclusive future.

0:06.0

At the Bloomberg New Economy Forum, we help make this possibility a reality

0:11.0

by cultivating new connections among global leaders that transcend geographies, industries

0:16.3

and ideologies.

0:18.4

Because when global leaders work together, the outcomes benefit all of us.

0:23.0

Learn more at Bloomberg New Economy.com. Hello and welcome to another episodeaway. So Tracy we are recording this episode. I'm Joe Eisenthal.

0:46.0

And I'm Tracy Allaway.

0:48.0

So Tracy, we are recording this episode. I think just six days,

0:54.1

actually I know just six days before the election.

0:57.8

I think by the time people listen to it,

1:00.6

the election will have been passed. But nonetheless, we are in a period either. to it's

1:07.5

Nonetheless, we're in a period either way in which there is just an extraordinary amount of attention

1:10.1

paid to what's going on in Washington DC.

1:15.7

Yeah, less than six days to go. It's time to start making predictions about the outcome of the election. So everyone who listens to this after it actually

1:19.2

happens can tell us we were wrong. Perfect timing. Yeah, that's exactly that's the perfect way. Also of all of our

1:26.1

predictions are off we just want to air the episode. No I'm just kidding but I mean I do feel like a I don't I'm not going to stick my neck out and make any predictions.

1:35.0

And B, election aside.

1:37.6

And of course, the election is sucking all the oxygen out of the room in terms of people's attention,

1:42.3

just paying attention to what's going on in DC has been increasing

1:47.3

and importance for markets. It seems like for a long time now. Yeah, I think that's right and I mean 2020 has basically taken everything to an extreme all these long-term economic

1:59.7

and business trends that have been in play for many years now seem to have accelerated this year.

2:05.7

But I think you can argue that there was more of a focus on politics after the financial crisis.

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