The post Trump mania continues on Wall Street – Where’s the fear of new economic policies? appeared on BitcoinEthereumNews.com.

Wall Street is partying like it’s 2017. Trump is back in the White House, and the financial world couldn’t be more thrilled — or delusional, depending on who you ask. Stocks are surging, Bitcoin is mooning, and the big banks are salivating over deregulation and tax cuts. If you ask around, there’s little concern about what Trump’s chaotic policies might actually do to the economy. Investors are acting like markets will magically keep Trump in line, no matter how wild his plans get, because yes, that sounds like the president. David Bahnsen, managing $6.5 billion at The Bahnsen Group, sums up why Trump’s market obsession is their safety net. “The reason he cares so much about financial markets is that there’s a validation they represent to him,” he says. The deregulation frenzy Trump, forever the outsider in Manhattan’s elite social circles, finally feels like he belongs when markets cheer for him. Wall Street seems to naively believe that this psychological need for approval will stop him from torching the economy. Now Bitcoin’s been on a tear, climbing ever higher after Trump gave his stamp of approval to a crypto project run by a guy once nicknamed “the dirtbag of the internet.” Yes, that’s a real thing. A few months before the election, Trump aligned himself with the crypto crowd, and now the sector is soaring. For Wall Street though, the real excitement lies in Trump’s deregulation promises. The president-elect has vowed to slash ten regulations for every new one, and bank stocks are climbing as executives prepare for the green light on mergers and acquisitions. The corporate tax rate is set to drop from 21% to as low as 15%, triggering widespread buying across the market. Securities and Exchange Commission (SEC) Chair Gary Gensler is already packing his bags, with…

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Filed under: News - @ November 19, 2024 4:28 pm