These days, it seems that everyone who is anybody on Wall Street is amped up for Trump’s return to the Oval Office. With Trump 2.0, there’s apparently something for everyone in the financial arena.
JPMorgan Chase CEO Jamie Dimonand boasted to associates he hadn’t spoken to Donald Trump in years, was now in the position of calling the president-elect with congratulations and an offer to help in any way. Trump didn’t pick up, forcing Dimon to leave a message on his voicemail, according to two people with knowledge of the call.
Interest rates are set by the Federal Reserve, not the president directly, and they’re already on the way down. Still, Trump has shown no compunction about publicly insisting that the central bank keep rates low, despite a tradition that presidents generally steer clear of direct pressure on the Fed.
And perhaps no one is more elated than cryptocurrency investors and venture capitalists, who embraced the once-bitcoin-sceptic president-elect and are hoping to be permitted to register and market new coins to ordinary investors. The price of bitcoin, a proxy for the hopes of the industry at large,and has shot up nearly 40 per cent since the election. The S&P 500 is up 6 per cent since then.
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