CIO Galvin on Bloomberg: No Fiscal Support Could Be the Grinch that Steals Christmas
October 9, 2020
City National Rochdale Chief Investment Officer Tom Galvin was a guest on Bloomberg’s “The Close” program, where he discussed the economic recovery, how vaccine developments and the potential for lockdowns are keeping him up at night, the upcoming election and the market’s strongest week since August.
“Not getting fiscal support could be the Grinch that steals Christmas,” said Galvin, noting it would be best if a fiscal stimulus package came before end of year to bolster holiday spending and provide companies with the confidence to hire and invest. “Never say never,” he said. “I think we’ll get it. The timing is the aspect that’s hard to tell.”