Trump impeachment hasn't impacted finances says Cline
The U.S. House of Representatives on Dec. 18 passed two articles of impeachment against President Donald Trump. While his impeachment won’t become official until the articles are taken up in the Senate, the impeachment process has dominated the news in recent weeks.
Major political events in the United States often affect the nation’s economy. So, to find out just what impact the impeachment process may or may not have on financial markets, The Journal-Tribune sat down for a Q&A with Ross Cline, an Edward D. Jones investor in Blackwell. Here’s what he said.
Q: Thanks for your time, Mr. Cline. So far, has the impeachment vote impacted financial markets? If so, how?
A: No, the impeachment has not really had any negative impact on the market. The impeachment process has been more of a headline than a headwind. The fundaments of economic growth and corporate earnings are still intact. The market in general has been very strong.
Q: Do you think the impeachment vote will have an impact on markets in the future?
A: The impeachment vote in the House has not had a negative impact on the market, but it will be interesting going forward on how the Senate process pans out. We could certainly have some short-term swings in the market, but don't expect it to shape the direction of the overall market.
Q: Should investors do anything in response to the impeachment vote?
A: Investors should stay the course with their portfolio going forward. Don't let politics play with your portfolio. In other words, keep your long-term strategy in place.
Q: We’re already seeing presidential campaigns ramp up for the 2020 election in November. Does this period of political “excitement” have an effect on markets?
A: During election years, we're certainly going to have some ebbs and flows in the market. The main focus should be on your personal financial strategy. Making decisions on your portfolio because of politics is usually not the right decision. Stick with your long-term strategy and stay the course.
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