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How Trump's Presidential win is impacting federal rates and stock market boom
Fox45 News, November 8, 2024
RESI Chief Economist Daraius Irani appeared on Fox45 News on November 8th to discuss the latest rate cut by the Federal Reserve and the overall current economic conditions. Dr. Irani stated that the recent growth in the stock market following the election of Donald Trump is likely a response to expected corporate tax cuts and deregulation. He also noted that the reduction in interest rates is expected to translate into a decline in interest rates for large purchases such as cars and homes, and that the Federal Reserve is currently expected to continue decreasing interest rates in December and beyond. However, Dr. Irani warned that if the incoming administration were to implement inflationary policies such as additional spending (including tax cuts) or new tariffs, these policies may impact the plans of the Federal Reserve and result in interest rates remaining at a higher level than previously anticipated.
Economist Daraius Irani on stock market's reaction to election
WBAL-TV 11 News, November 6, 2024
RESI Chief Economist Daraius Irani appeared on WBAL TV on November 6th to discuss the possible economic impacts of the presidential election results. Dr. Irani noted that Donald Trump’s plan to implement new tariffs would likely impact agricultural businesses, as those companies would find themselves facing retributive tariffs and would limit their ability to export goods, similar to the impact of the tariffs implemented during Trump’s first term. These tariffs would likely result in a slowdown of trade overall and an increase in prices. In addition, Trump’s stated goal of deportations could affect many Maryland businesses that rely on immigrant labor, leaving companies both understaffed and facing a tougher labor market when attempting to replace any employees that are lost
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