2024 Election: What investors need to know – New York Life Investments – 9.6.24

Summary:

Now On Demand

Polls have found the economy to be a top issue for voters ahead of this year’s presidential election. But what does the intersection of economics and politics actually look like?

While Democrats and Republicans have a similar goal for the United States – maintain its importance as a global strategic and economic power – their paths to meeting this goal are different. The two parties’ differing views on governance—the role, size, and importance of norms and institutions—are what makes the difference. This matters for investors.

Key questions that we’ll answer:

• What are the most important policy areas for investors?
• What election outcomes may move the market?
• High conviction ideas: How can investors manage market volatility driven by the crosscurrents of rates, earnings, and an election?
• Spotlight on tax policy: What does the expiration of the 2017 tax cuts look like? What is the impact of TCJA developments on portfolios? What is the expected implication for municipal bonds?

Accepted for 1 CFP^® / IWI / CFA CE Credit

Speakers:

A dynamic and insightful speaker and author, Jeff Bush is known for his unique ability to translate difficult and confusing information coming out of Washington D.C. into winning growth strategies for business owners, executives, and high-net-worth investors. Jeff is the principal of the Washington Update, the industry’s nonpartisan expert on all things Washington.

Jeff presents more than 200 times yearly in the US and abroad to a client base that includes a who’s who list of fortune 500 firms from Wall Street to Main Street and everywhere in between. Jeff frequently appears on CNBC’s Nightly Business Report, is featured in various industry publications, including Investment News, and a guest on POTUS Sirius/XM Radio.

Jeff is a 30+ year veteran of the financial industry. By the end of his career on Wall Street, he managed a $50+ billion sales organization. Before that, Jeff was the youngest managing partner in the 150-year history of The New England Financial. Jeff holds a bachelor’s degree in Business Administration/Management with an emphasis in Accounting, Computers, and Philosophy from William Jewell College.

Scott is a Managing Director at MacKay Municipal Managers and Portfolio Manager of the MainStay MacKay municipal bond funds. His primary focus is on the taxable, short term and California segments of the municipal market.

Scott joined the firm in 2009 in his current role. Previously, he was Head Trader, Fixed Income, at Financial Guaranty Insurance Company. Scott was also a Municipal Bond Portfolio Manager/Trader at Dreyfus Corporation and Merrill Lynch Investment Managers. He has worked in the financial services industry since 1991.

Scott earned a B.S./B.A. in Finance from Villanova University.

Michael “Macro Mike” LoGalbo is a Global Market Strategist at New York Life Investments, where he is responsible for economic and market research, asset allocation perspectives, and thought leadership to empower investment decision-making. He has a deep passion for macro investing. His unique approach integrates expertise in economics, markets, politics, and geopolitics to craft fundamental and quantitative top-down investment insights.

A prolific writer on economic and capital market themes, Michael empowers a wide range of investors with actionable investment insights on a weekly basis. Combining his creativity and quantitative skills, Michael could also be referred to as the “Chief of Charts” as he leads the group on data analysis and visualization.

Michael also provides a valued voice in the client and public sphere, where he shares perspectives on the evolving global macro landscape. He is most often sought for his ability to simplify complex economic concepts and market trends.

Michael brings years of experience from both public and private markets, and macro to micro. He is a CFA Charterholder, graduated from the University of Southern California and holds a Master’s Degree in International Economics from Johns Hopkins and an MBA from the Wharton School.

Lauren Goodwin is an economist and the Chief Market Strategist at New York Life Investments. She leads the firm’s Global Market Strategy team, and is responsible for economic and market research, asset allocation, and thought leadership to empower investment decision-making.

Lauren’s research focuses on the investment implications of an evolving macroeconomic and capital markets environment. She has written extensively on global economic developments, policy, portfolio construction, megatrends, and geopolitics. Lauren authored the CFA Institute’s curriculum on Geopolitical Risk. Lauren is a member of the Milken Institution Young Leaders Circle – a highly regarded program for select intellectually curious, motivated and philanthropic professionals.

Lauren has a unique ability to explain complex economic and market issues in a relatable and actionable way. She regularly represents the firm as a keynote speaker at conferences and in television and print media outlets such as: Bloomberg, CNBC, the New York Times, Nikkei, and the Wall Street Journal. She is a host of the firm’s economic and market podcast, Market Matters.

Prior to joining the firm, Lauren held economist positions at JPMorgan, Wells Fargo, Frontier Strategy Group, and the OECD. She is a CFA Charterholder, graduated summa cum laude from the University of Southern California and holds a Master’s Degree in International Economics from Johns Hopkins.