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"A comprehensive, collaborative elections resource."
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"Volfefe index" tracks market impact of Trump's tweets
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| Contributor | RP |
| Last Edited | RP Sep 09, 2019 02:21pm |
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| Category | Analysis |
| Author | Kate Gibson |
| News Date | Monday, September 9, 2019 07:50:00 PM UTC0:0 |
| Description | President Donald Trump has made it clear to 64 million Twitter followers he believes the U.S. stock market would be in far better shape if only the Federal Reserve would do his bidding and further lower interest rates. Yet the president himself regularly moves financial markets without any assist from the Fed when he takes to social media.
So say analysts at JPMorgan Chase, who've created an index to quantify the market impact of having such a prolific presidential presence on Twitter. Dubbed the "Volfefe Index," a tongue-in-cheek reference to Mr. Trump's since-deleted "covfefe" tweet from 2017, the gauge indicates that the president's tweets have a statistically significant effect on Treasury yields. |
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