In our new CIO Special we look back at President Biden’s first year in the White House and his administration’s successes and disappointments, as well as looking ahead to what will be a defining period for his presidency.

Key takeaways:

  • Following his 2020 election victory, President Biden faces policy uncertainty after initially delivering COVID-19 rescue and infrastructure packages for the U.S. economy. 
  • Falling poll numbers and high inflation are proving to be a difficult combination for his administration to navigate with political in-fighting within the Democratic Party making any further progress difficult to achieve.
  • History shows that midterm elections typically swing in favor of the opposition party, but America remains a deeply divided nation – potential surprises could occur. 
  • Market performance during times of a Democratic Executive and a Republican Congress has typically been positive. However, macro tail risks remain on the table.

To download a PDF of the full report, please click here.

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