The shock replacement of the Democratic presidential candidate less than four months before the US election has introduced a new element of uncertainty about the outlook for economic policy in 2025 and beyond.
The immediate unknown is whether President Joe Biden’s expected successor at the top of his party’s ticket, Vice President Kamala Harris, would recalibrate Democrats’ economic agenda. Economists and investors alike have been scouring her record as a US senator and, before that, California’s attorney general, for clues.
While the assumption of many market participants had been that former President Donald Trump was the clear favorite ...
