President Trump Impeachment

15 Jan 2021 Written by: Redaksi OCBC NISP

As a result of riots at the US congress building during Joe Biden’s inauguration as president-elect for the period 2021-2025 last week, Nancy Pelosi as parliamentary spokesman invited other members, with the support of Democratic party, to meet this week to discuss “impeachment” against President Trump.

This impeachment is not the first time it has occurred during Trump’s tenure. If the parliament approves the impeachment with a vote of 50% + 1, the President will face the court process in the Senate, which then on the basis of voting decides whether the President will remain in the office or not. Trump received his first impeachment at the end of 2019 because of his abusing power and obstructing Congress. However, Trump escaped during this first impeachment with the support of the Republican party that controlled the senate at that time.

However, with less than a week to go before Joe Biden enters the White House, this is likely to be difficult, since Trump is out of office after January 20. So that it is not possible to impeach an official who is no longer serving in the White House. A more likely option for lawmakers is to impose a ban on Trump from running for president again in the upcoming elections in 2024.

Investment Strategy:
Political tensions can suppress movements in risky assets, such as stocks. Thus, in the short term, investors will prefer relatively safer types of assets, such as bonds, until tensions fade. Given that Trump's tenure is nearly over, this correction will be more technical or temporary, and can be used to accumulate assets such as stocks in stages (buy on weakness).


Source: CNN, BBC, SKYNEWS, NYPOST

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