President Donald Trump said Wednesday that if he were to be impeached that the "market would crash" and "everybody would be very poor.".
There is some, limited, validity to the president's claim.
“You could end up having a very short-term downdraft in the market,” Sam Stovall, chief investment strategist at the Center For Financial Research and Analysis, told Newsweek on Thursday. “The stock market doesn’t like any uncertainty and obviously a Trump impeachment would throw uncertainty into the mix.”
But even if Democrats retake control of the House of Representatives in the upcoming midterm elections, a likely outcome as polls predict a possible blue wave and because midterms generally see the party in power lose seats, Democrats have almost no possibility of getting the two-thirds majority in the Senate they would need to convict Trump.
In the unlikely event that Trump does leave the White House and Vice President Mike Pence assumed the presidency, the climate could even better for the economy, Stovall suggested.
Read more: Can Trump's Impeachment Lead to Economic Collapse?
There is some, limited, validity to the president's claim.
“You could end up having a very short-term downdraft in the market,” Sam Stovall, chief investment strategist at the Center For Financial Research and Analysis, told Newsweek on Thursday. “The stock market doesn’t like any uncertainty and obviously a Trump impeachment would throw uncertainty into the mix.”
But even if Democrats retake control of the House of Representatives in the upcoming midterm elections, a likely outcome as polls predict a possible blue wave and because midterms generally see the party in power lose seats, Democrats have almost no possibility of getting the two-thirds majority in the Senate they would need to convict Trump.
In the unlikely event that Trump does leave the White House and Vice President Mike Pence assumed the presidency, the climate could even better for the economy, Stovall suggested.
Read more: Can Trump's Impeachment Lead to Economic Collapse?
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