Scott Clemons - Brown Brothers Harriman

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Last quote by Scott Clemons

My read is that nobody is counting on this, nobody's expecting it. There are certain aspects of this that are not palatable to members of Congress. There are still in Washington within the GOP that vanishing breed of deficit hawks that have found their voice and they are finding it on the tax bills.feedback
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Apr 26 2017 Republican Party
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Scott Clemons is associated, including Fed, July, and market. Most recently, Scott Clemons has been quoted saying: “My read is that nobody is counting on this, nobody's expecting it. There are certain aspects of this that are not palatable to members of Congress. There are still in Washington within the GOP that vanishing breed of deficit hawks that have found their voice and they are finding it on the tax bills.” in the article Trump tax cut sounds great but markets are skeptical it would send interest rates flying.
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Scott Clemons quotes

This is one where the good news outweighs the bad. The good news is personal consumption, which is the primary engine of economic activity and which contributed just about all of the growth. It's not too much of a stretch to envision what the political response would be from the White House. The Fed raises rates more often than (Trump) thinks it should, this White House being this White House takes to Twitter ... you can envision that it could spiral into a pretty negative situation by the end of the year. That's not a forecast or a projection, but it is a risk.feedback

It's also a data point that is to some degree divorced from the political rhetoric. So much of the talk is, what are the implications of (President-elect Donald) Trump tax policy, immigration policy? This is a real-life indicator that the underlying trends regardless of politics are heading in the right direction. So this is an unequivocal positive both for the economy and the markets.feedback

We had a trial run in June with the Brexit vote. Like with Brexit, investors and traders are realizing that this is a process, not an event.feedback

What you're seeing right now is a pretty predicable repositioning of portfolios. Like with Brexit, investors and traders are realizing that this is a process, not an event.feedback

I think the consensus has been moving that way for some time. You have one more rate hike [this year], and then it just becomes a guessing game.feedback

I think the consensus has been moving that way for some time. You have one more rate hike, and then it just becomes a guessing game. I think the Fed needed to, and they accomplished with the language of the press release that they're keeping a July rate hike on the table.feedback

As we approach the seventh anniversary of the bottom of the market, March of 2009, earnings have begun to wane thin, valuations are pretty lofty, and that's a headwind. That's an obstacle for markets in 2016. Whether or not we get earnings growth in 2016 – that's the real fuel, that's one of the dynamics I'm watching very carefully.feedback

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