Mediacom world news portal
As President Donald Trump faces an intense impeachment inquiry brought on by House Democrats in response to his July 25 phone call in which he might have pressured the Ukrainian president for information on his potential 2020 presidential competitor, analysts are already running the numbers on the consequences of a presidential resignation from office.
According to The Hill, Wall Street firm Raymond James revealed that in a hypothetical situation where Trump resigned from the White House, the stock market would go into shock, but would quickly rally with Vice President Mike Pence at the helm.
“After the initial shock, we think the market rallies as Pence is a predictable, traditional, conservative choice,” the firm stated in a Wednesday paper, as reported by CNN Business.
The investment firm also admitted that Trump’s potential resignation is a “low probability event,” but firm analyst Chris Meekins explained that his company published the report based on the rumblings of Washington insiders who have considered the possibility of it happening.