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As the 2024 presidential election looms, B. Riley Wealth chief market strategist Art Hogan joins Market Domination to discuss the country's fiscal policy and what to expect from the upcoming presidential debate.
"When it comes down to fiscal policy, the hardest time to talk about that is an election year, because neither side of the aisle is going to actually ever say anything about cutting spending," Hogan explains. He states that the US needs to collect more revenue and spend less to tackle its debt, adding, "I'd be listening to people that are willing to talk about both sides of that equation. Unfortunately, in a national election, nobody wants to talk about cutting spending."
As President Biden and former President Trump are set to take the debate stage, Hogan would like to hear "a clear and concise argument made for why tariffs actually work, because I don't believe that they do." He believes that the consumers pay the price of tariffs at the end of the day, and it would be ideal if both candidates took tariffs off their agendas: "You could certainly protect American industry without costing consumers more money."
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This post was written by Melanie Riehl