‘Voters Are Queasy or Sour About the Economy’: Wall Street Week

Welcome to the Wall Street Week newsletter, where the best minds on Global Wall Street give you some investing food for thought from our conversations on Bloomberg Television. I’m David Westin, and this week we talked with Roger Altman of Evercore about the economic choice in November’s US election, with Ray McGuire of Lazard about the need on the horizon for massive capital investment, and with Mary Lovely of the Peterson Institute about the upcoming Chinese Communist Party Third Plenum on economic issues. Evercore’s founder and senior chairman, Roger Altman, has spent his career moving between Wall Street and the Beltway, and he sees “two very different visions” in the economic approaches of the two candidates, “and voters will have the chance to render a verdict.” On the one hand, “most presidents, including the two I served would be very proud to have the basics” of President Biden’s record. Biden’s term has seen “16 million jobs created,” an “unemployment rate below 4% for one of the longest stretches in American history,” and “huge increases in private investment and consistent growth.” On the other hand, “voters are queasy or sour about the economy” because of the “much discussed topic of affordability.”