James Pethokoukis

Politics and policy from inside Washington

Ed Yardeni doesn’t need Prop. 19

November 2, 2010

The investment strategist just needs the right electoral outcome today to be bullish:

I’m high on America. I expect that stock prices will move higher over the rest of the year. I’m still targeting 1250 by the end of this year and 1400 by the end of next year. I’ve been expecting a decisive regime change in Congress for over a year. Today’s election may be even more decisive than I expected. That will certainly lead to gridlock on lots of issues. However, I believe that the Democrats and Republicans will agree to extend the Bush tax cuts for two years across the board during the lame duck session of Congress. They won’t agree on much else, but that’s probably a good thing.

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