What Cheesesteaks Can Tell Us About the Markets

By Matthew Makowski Another election is in the books. And the pollsters proved pretty accurate this go-round, with few surprises from the ballot box.

We were left with two major takeaways from the 2018 midterm elections. One is that Democrats will be in charge of the House in January. The other is that Republicans held on to the Senate. Despite initial hints of a bilateral infrastructure plan in 2019, I’d like to make a bold prediction…

The catchphrase for 2019 will be “partisan divide.”

The Federal Reserve Bank of Philadelphia actually keeps tabs on this sort of thing. Its Partisan Conflict Index tracks political disagreement. It …read more