In normal circumstances, there would be one big question dominating the minds of investors today, after the Democrats’ startling Senate wins in Georgia: what does the result mean for the direction of future economic policy?
Yet these are anything but normal times. The debate around impeachment and insurrection has not just driven economic policymaking away from the headlines but drowned out the grim news that almost 4,000 Americans died from Covid-19 on Wednesday, the second highest daily toll so far.
But as the dust settles, investors would do well to step back and ponder the bigger significance of these two other pieces of news. As they do, they should also ponder another “i” word — not “insurrection” or “impeachment” but “inequality”.
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