About this episode
Voters overwhelmingly ushered in a new Republican majority. But what can investors expect when it comes to key issues like regulation and inflationary policy? One thing is for certain: You can bet on change.
Join Head of Public Policy Jason Cole and Chief U.S. Economist Lara Rhame as they dive into what the Trump win means for markets, policy and the economy.
Transcript excerpt
[00:00:00] Jason Cole: You’re going to get across-the-board personnel shifts. And I think that’s going to create a lot of opportunities for a lot of regulated industries.
At the EPA, the Department of Energy, the Department of Labor, particularly for many of our viewers, Department of Labor, the fiduciary rule is going to go away as a result of this election. And a lot of work at the SEC that our business has had to deal with over the last four years—there’s going to be a lighter touch, one. And two, potential opportunities to make some meaningful shifts in things that need to get done to bring funds to market quicker to give investors additional options, to increase the universe of investors and products that we offer, through the changes to the accredited investor rule. All of this stuff I expect to be on the table and openly discussed as we get into 2025.
[00:00:54] Lara Rhame: Welcome back to FireSide, a podcast from FS Investments. I’m Lara Rhame, Chief U.S. Economist, and you won’t want to miss this one. I’m sitting down with Jason Cole, our Head of Public Policy, and it’s the Friday after the election. We’re going to break down what it means for markets, policy and the economy. Jason, welcome.
[00:01:14] Jason Cole: Thanks Lara. Great to be here.
[00:01:16] Lara Rhame: On Tuesday, President Trump was reelected the 47th President of the United States, and he roundly beat Vice President Harris. I know that votes are still being counted, markets are moving rapidly. There’s a lot to break down, Jason. The podcasts that we record with you are just often our most listened to content.
Your nuance and ability to talk us through these complicated times and events is so valuable. So, first of all, tell us what happened. I know what happened. We know the headline of what happened. But there’s so much more…
[00:01:53] Jason Cole: Yeah, we know what…
[00:01:55] Lara Rhame: As we’ve talked, Congress matters, these little races; really, give us from your seat what happened.
[00:02:03] Jason Cole: We obviously know at a very high level what happened. President Trump was reelected. In this day and age with close elections, that’s—I don’t want to use the L word, landslide—but that’s a pretty decisive victory. And for the first time since 2004, a Republican will have won, or it’s shaping up to be this way. There’s still a lot of vote out in California and the overall national vote is going to narrow. But it looks like he’s going to win the overall national popular vote as well, again, the first time since 2004. Now, unpacking what happened here, I’ve been doing events live and webinars with advisors and others around the country in the lead-up to the election. And the first slide I always had in those presentations was, and maybe this is the headline for our podcast today, “Bet on Change.”
