At the World Economic Forum in Davos, Switzerland, Carlyle Group's Co-founder David Rubenstein discusses 2024 election market impacts with Yahoo Finance's Julie Hyman and Brian Sozzi.
Rubenstein notes that the economy tends to perform better when there is a divided government. He argues that a lot of CEOs, whether they admit it or not, would be happy with a Donald Trump presidency because he would cut taxes and regulation. With another Biden term, there would be likely more regulation but that, regardless of leadership, "business people are good at adapting. Just tell them what the rules are and they'll try to figure out how to deal with it."
On Trump potentially regaining the presidency, Rubenstein cautions his return could mean capital markets "living through some of the dysfunction" again if partisan gridlock stalls policymaking. Although, he stresses it's still "too early" to predict electoral outcomes definitively.
This interview is part of Yahoo Finance's exclusive coverage from the World Economic Forum in Davos, Switzerland, where our team will speak to top decision-makers as well as preeminent leaders in business, finance, and politics about the world’s most pressing issues and priorities for the coming year.
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