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Democrats have completed a sweep of Congress following the double victory in the state of Georgia's run-off election. Keith Wade, Schroders' Chief Economist, discusses what this means for the US economy in the near-term:
"The disturbing scenes of protestors storming Capitol Hill last night may have soured the victory, but nonetheless the Democrat Party now have control of the Senate and the House of Representatives for the first time since 2009. They now have control of Congress and are in position to implement much of President-elect Joe Biden's agenda. The near term impact will be greater fiscal spending, with Biden having already described the recent $900bn bill as a "down payment". Expect an enhanced bill with the stimulus cheques most Americans are set to receive...
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