It has been almost one month since Election Day, but the tension surrounding American politics is still high. From changing interest rates and newsworthy interviews to questions of Donald Trump’s legitimacy and protests, the unforgettable election of 2016 continues to be unforgettable.
Rob Clarfeld, founder and CEO of Clarfeld Financial Advisors, wrote for Forbes.com last Wednesday to say that interest rates have been climbing since the beginning of the summer but have increased at an even higher rate since the election. Clarfeld explained that Trump’s election caused bond markets to respond negatively because of the newly elected president’s plans for office. Investors are wary that Trump’s plans for infrastructure spending, defense costs, and decreased taxes will lead to economic inflation. Additionally, the Federal Reserve has long been expected to change its policy and increase interest rates. Clarfeld also remarked that Trump’s rhetoric for making the defense of the United States a priority has influenced currency. In anticipation of less foreign trade and increased domestic demand, the US dollar has increased 2.8 percent since the election. If the dollar continues to increase in strength, the prices of domestic goods could become too high for foreign markets, affecting US corporations negatively and bond markets positively.
Another political development since the election was the NPR interview on “The Diane Rehm Show” of a surrogate of Trump, Scottie Nell Hughes. In response to the subject of Trump’s stream of unproven claims throughout his campaign, Hughes stated, “One thing that’s been interesting this entire campaign season to watch is that people say facts are facts. They’re not really facts.” The comment shocked journalists and seemed an attempt to defend Trump’s lies and conspiracy theories — such as Trump’s recently unproven claim that there were millions of illegal voters in the November election. Just this past Friday, Trump sent a questionable tweet saying that Taiwan “CALLED ME,” suggesting his lack of initiative in the controversial interaction, though the Taiwanese press reported that the call was previously scheduled with his consent.
Meanwhile, resistance to Donald Trump’s presidency lingers on among some throughout the country. In Cincinnati on Thursday, protesters outside the US Bank Arena chanted “love trumps hate” while Trump made the first stop on his post-election victory tour. Additionally, the 2016 Green Party nominee, Jill Stein, is advocating for a recount in Wisconsin, Michigan and Pennsylvania. All three of these states are typically Democrat, and the statement Stein released to try to raise money for a Wisconsin recount claimed both “compelling evidence of voting anomalies” and “significant discrepancies in vote totals” in each of the three states. Stein has raised $6.9 million to pay for the three recounts. The recount in Wisconsin began Thursday, while the Michigan and Pennsylvania recounts have not yet begun
Though the next four years under President Donald Trump have yet to unfold, they are likely to make significant history based on the political tension during his campaign and the first several weeks after his election.