CHICAGO — Financial Advisor Mark Grywacheski says there's a 'cautious optimism' on Wall Street right now about how the economy will be this year.
Grywacehski recorded an interview with me Friday, January 29th. It aired Monday, February 1st. He says, the fate of the economy is still very much tied to the coronavirus. He says vaccines increasingly becoming available should help city, state, and federal leaders open economies back up in different parts of the country.
What will a Joe Biden presidency look like, and how will it impact our economy? He says Wall Street traders are still trying to figure that out.
"We already know there will be added government regulations on businesses and that tax rates will most likely increase for many corporations and small business owners, but we're coming off the biggest impact to the U.S. economy in almost 100 years, and there's a tremendous concern on Wall Street of how these higher costs and higher regulatory burdens and higher taxation rates will impact businesses that are still trying to recover or are simply trying to keep their doors open."
Grywacheski's answer aired in-between 5 and 5:30 a.m. Monday. Here's what he said Sunday, October 4th, before President Biden was elected.