If Donald Trump were to regain the presidency in 2024, it would be a “Holy Trinity” for stocks, according to Skybridge Capital founder Anthony Scaramucci.
What Happened: Scaramucci, who was briefly the White House Communications Director for 10 days during the Trump presidency, said on Wednesday that Trump is the “Holy Trinity of market lubrication,” reported Fortune.
The Wall Street financier listed the three elements that constitute that trinity — “Stimulus, through deficit spending, low-interest rates—easy money—and a lack of regulation,” according to the report.
Why It Matters: Trump announced his presidential bid on Tuesday. He said in his announcement speech, “Our country is in a horrible state and we’re in grave trouble.”
The following day the S&P 500 and Nasdaq closed 0.8% and 1.5% lower respectively.
Scaramucci also said that Trump as a candidate also could usher in volatility. “The flip side is [investors] also know that he creates what markets absolutely hate: political instability,” reported Fortune.
“If any one of those other candidates can present themselves with some of the Trump messaging without the Trump drama, there might be opportunities.”
Photo by World Economic Forum on Flickr
Note: Scaramucci is speaking at the Benzinga “Future of Crypto” conference on Dec. 7 in New York City.