(Bloomberg) -- The first weeks of Trump’s presidency have forced investors tocontinually rethink their approach as the Republican sends mixedsignals with his appointments and statements, according to KrishnaMemani, who oversees more than $220 billion at OppenheimerFundsInc.
“You can’t blame the market for being confused,” Memani, who ischief investment officer, said Monday in an interview on BloombergTelevision. “After the election, we were expecting lots of things.What is becoming clearer is the fact that whatever we wereexpecting will take a long time to manifest itself, whether that isObamacare, or whether that is fiscalstimulus.”
ACA replacement in 2018 now?
The process for coming up with a replacement for the AffordableCare Act could stretch into 2018, Trump said in an interview withFox News broadcast Sunday, just weeks after saying he’d put forthplans for a new law as soon as the Senate confirms his pick to runthe Department of Health and Human Services.
And the nomination of Mick Mulvaney to lead the U.S. Office ofManagement and Budget could complicate efforts to stimulate theeconomy, given his focus on narrowing the gap between spending andtaxes, Memani said.
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