Ed Moya Slower Growth Forecasts As Build Back Better Shifts To Build Back Later
Ed Moya, Senior Market analyst at OANDA, joins us for a focus on the rough start to this shortened holiday trading week, as the news that Senator Joe Manchin would not support President Joe Biden’s $1.75 trillion Build Back Better social policy bill. Many analysts are now projecting slower growth forecasts for next year as it appears the Biden administration may need to retool and we discuss which sectors of the economy this may impact.
Ed mentions that there will still be some investment in growth and that sectors like utilities, healthcare, real estate, and consumer staples should still keep growing, and that this recent pullback in some tech and growth stocks may be attractive to generalist investors looking to buy the dip. We wrap up by getting Ed’s outlook on the Oil and energy sector and the current supply and demand forces at work.