{"id":1709637,"date":"2022-10-25T06:11:02","date_gmt":"2022-10-25T10:11:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1709637"},"modified":"2022-10-25T06:18:39","modified_gmt":"2022-10-25T10:18:39","slug":"congressional-gridlock-after-midterms-may-not-be-all-that-bad-for-markets-says-economist-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/congressional-gridlock-after-midterms-may-not-be-all-that-bad-for-markets-says-economist-2\/","title":{"rendered":"Congressional Gridlock After Midterms May \u201cNot Be All That Bad for Markets,\u201d Says Economist"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcongressional-gridlock-after-midterms-may-not-be-all-that-bad-for-markets-says-economist-2%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1709637&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A wave of Republican victories in the coming midterm elections will lead to a divided Congress, likely stalling President Joe Biden\u2019s soft infrastructure\u2014healthcare and childcare\u2014agenda, according to an American economist.<\/p>\n<p>\u201cThe House is very much tilting red and the Senate races have certainly narrowed in recent weeks. So, it will be very much gridlock in Washington, which tends to not be all that bad for markets because it means status quo and no major initiatives,\u201d Carl Riccadonna, chief U.S. economist at BNP Paribas, told The Epoch Times.<\/p>\n<p>\u201cA blue wave is the least likely scenario.\u201d<\/p>\n<p>Riccadonna shared his views this week during a bank press conference in New York.<\/p>\n<p>Republicans, who currently hold 50 U.S. Senate seats, need just one more to gain a majority. Thirty-four of 100 seats are contested and winners will serve six-year terms.<\/p>\n<p>\u201cWhat\u2019s at stake is the possibility of a 2.0 version of the Democratic agenda we\u2019ve seen in the first two years under President Biden, versus a more likely scenario, which is legislative gridlock for the next two years,\u201d Riccadonna said.<\/p>\n<p>When asked to elaborate,\u00a0 he said a 2.0 version of the Democratic agenda would include the continuation of investments in infrastructure, healthcare, and childcare.<\/p>\n<p>Last year, Congress approved the $550 billion Infrastructure Investment and Jobs Act, and the expanded federal Child Tax Credit provided families with up to $350 per child between July and December 2021.<\/p>\n<p>\u201cIn a blue wave scenario, you would see more fiscal support for those types of initiatives, which would mean more borrowing and more treasury issuance,\u201d Riccadonna added.<\/p>\n<p>The only risk scenario to a red wave that concerns Riccadonna is an unexpected shock, such as a new COVID variant that could pose a large threat.<\/p>\n<p>\u201cA divided Congress is going to be much slower to ride to the rescue unless things are really, really severe, and so that\u2019s the fallout,\u201d he said.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-juliette-fairley\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/WEB_JulietteFairley.jpg\" alt=\"Juliette Fairley\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Juliette Fairley is a graduate of Columbia University\u2019s Graduate School of Journalism. Born in Chateauroux, France, and raised outside of Lackland Air Force Base in Texas, Juliette is a well-adjusted military brat. She has written for The New York Times, The Wall Street Journal, TheStreet, Time magazine, Newsmax, and many other publications across the country. Send Juliette story ideas at JulietteFairley@gmail.com<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A wave of Republican victories in the coming midterm elections will lead to a divided Congress, likely stalling President Joe Biden\u2019s soft infrastructure\u2014healthcare and childcare\u2014agenda, according to an American economist.\u201cThe<\/p>\n","protected":false},"author":1,"featured_media":1709125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1709637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1709637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1709637"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1709637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1709125"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1709637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1709637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1709637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}