President Trump was impeached – and markets shrugged.
Just yesterday, the House voted to impeach Trump, forcing a trial in the U.S. Senate, where the issue will more than likely die.
However, in arguing for a fair trial, Speaker Pelosi has threatened to delay the Senate trial until Senate Majority Leader Mitch McConnell provides details of the trial.
“We can’t name managers until we see what the process is on the Senate side and I would hope that would be soon. So far, we haven’t seen anything that looks fair to us,” Pelosi said, as quoted by CNBC.
By doing so, she may be attempting the Senate from holding a short trial. Plus, “Democrats favor a more thorough, longer trial, which could be damaging to the president, despite the low likelihood of his removal from office,” says Business Insider.
Then again, none of this is rattling the Street, especially with the Senate unlikely to remove him from office at any time. In fact, Senate Majority Leader Mitch McConnell, already noted there is “no chance” Trump will be removed from office, as noted by MarketWatch.
Plus, as noted by McConnell, “I’m in no hurry.”
The best part — investors don’t care about impeachment. Markets are hitting higher highs.
With the Senate poised to acquit, “there looks almost certain to be no political payoff for markets to worry about from this epic impeachment saga — except perhaps to enthuse U.S. Republican voters and make Trump 2020 more, not less likely,” said Michael Every, a strategist at Rabobank, as quoted by MarketWatch.