Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Portfolio > Economy & Markets

GDP Suggests Time’s Running Out for Obama

X
Your article was successfully shared with the contacts you provided.

Unemployment has stayed doggedly over the 8% mark, and today’s GDP report doesn’t indicate that it can inch much lower before the elections. 

This morning’s 1.5% reading on gross domestic product report for the second quarter slightly beat expectations, but it’s still a puny number. And since no sitting president has been reelected when the jobless rate is over 7.8%, President Obama is going to have to campaign that much harder to win the election. 

Today’s market rally is probably due to traders gaming Obama’s decreasing chances for a second term, and wishful thinking for another round of quantitative easing.  


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.