Tax Policies Top Priority in Trump Administration According to Economists Krugman and Hubbard
November 21 2016 - 9:28AM
Tax cuts and tax reform likely will be early policy objectives of
the new Trump Administration and the Republican Congress, noted
economists Paul Krugman and Glenn Hubbard told a group of
investment professionals gathered this week at the FactSet 2016
U.S. Investment Process Symposium in Southampton, Bermuda.
Political and monetary policy were key topics of discussion one
week after the U.S. elections at the gathering hosted by FactSet, a
leading provider of integrated financial information and analytical
applications. The FactSet symposiums help investment professionals
gain knowledge on all aspects of the investment process, including
principles, processes, technology, and regulation.
Krugman, Nobel Prize winning professor and editorial columnist
for the New York Times, and Hubbard, dean and professor and a
former chairman of the U.S. Council of Economic Advisers,
participated in a keynote discussion moderated by Brenda Tsai,
Global Head of Marketing and Communications at FactSet, whose first
question was: “What policies or actions are most likely to happen?
What kinds of economic reforms are we going to see with the Trump
Administration?”
Krugman responded: “We can guess big tax cuts — that’s part of
the Trump promise and not something Congressional Republicans will
object to. Those cuts are going to be very big; we’re looking at
big numbers. Everything after that becomes really uncertain.”
Hubbard added: “The Republican Better Way agenda is as good a guide
as any. The place to start is tax reform, especially business tax
reform, and the agenda paves the way.”
A full report on the Krugman-Hubbard discussion is available
here:
http://insight.factset.com/hubbard-krugman-predict-economic-impact-of-trump-presidency.
Symposium attendees also focused on investment trends and work
processes. In a session entitled “Powering Your Investment
Workflow – The Trading Desk of The Future,” Curt Engler,
JP Morgan Asset Management, David Brooks, The Boston Company Asset
Management, and Alfred Eskandar, Portware LLC, discussed the
phenomenal growth of algorithmic trading and the use of “machine
learning” over the past five years. Eskandar said that machine
learning is now driving investment performance. “In 2013 a paradigm
shift happened. Since then, it’s been about predictive analytics.
Don’t tell me what I’ve done, tell me what I could do, what I
should do,” he said.
During a risk model providers panel, Sebastian Ceria, CEO of
Axioma, observed that front and middle offices are converging in
most investment firms. “Many [risk managers] interact very actively
with portfolio managers and, in doing so, they have to speak the
same language. If they don’t … it’s very hard for them to agree on
the risks they are taking.”
Commenting on the takeaways from the three-day Symposium, Brenda
Tsai said: “FactSet strives to be a partner to investment
professionals in all areas of financial technology, analytics and
insights. Attendees at our Investment Process Symposium took home
ideas, political and financial insight, and actionable intelligence
that will provide great value in the interesting times that lie
ahead.”
For more information on FactSet’s 2016 U.S. Investment Process
Symposium please click here. To receive additional insight into
global economic changes and the impact on workflows and the
industry, subscribe to FactSet Insight at
http://insight.factset.com/.
About FactSet FactSet delivers the world’s best
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Contact:
Amy Bowman
FactSet Research Systems Inc.
203.810.2144
abowman@FactSet.com
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