President Donald Trump has not conceded defeat, and not a single state has certified election results – nor will any do so for a while.
In key battleground states, Biden has eked out a narrow lead – enough to put him over the top in the electoral college, according to the establishment media.
However, the Trump campaign insists there are legal votes still left to be counted and illegal votes still subject to being tossed out.
Control of the U.S. Senate remains up for grabs with two Georgia races headed for a runoff. Odds favor Republicans capturing at least one of them to retain a small majority in the Upper Chamber.
A divided government would mean more gridlock when it comes to passing major legislation.
Failure to come to an agreement on a new fiscal stimulus package passes the buck to the Federal Reserve.
Fed Chairman Jerome Powell stands ready to assume the role of stimulator in chief.
During remarks last Thursday, Powell said, “Further support is likely to be needed from fiscal and monetary policies.”
He added, “With inflation running persistently below 2%, we will aim to achieve inflation moderately above 2% for some time.”
With the unlimited ability to purchase assets by the trillions and no means or willingness for Congress to rein him in, Powell could single-handedly trigger an inflation outbreak or currency crisis during the next presidential administration.
About the Author:
Stefan Gleason is CEO of Money Metals Exchange, the company recently named "Best Overall Online Precious Metals Dealer" by Investopedia. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC and in hundreds of publications such as the Wall Street Journal, TheStreet, and Seeking Alpha.
