Investors looking for a business-friendly approach from Vice President Kamala Harris may be disappointed, according to analysts at Evercore ISI. In her upcoming economic speech in North Carolina, Harris is expected to focus on consumer costs and advocate for policies that may not align with traditional business interests.
The firm notes that Harris plans to address issues such as price gouging for groceries, prescription drug pricing, and the "care economy," which includes healthcare, childcare, eldercare, and paid leave. She is also expected to discuss housing supply and has expressed support for linking landlords' tax benefits to rent increase caps.
Evercore ISI highlights Harris's past actions against big businesses, such as banks and fossil fuel companies, during her time as California's attorney general. While she has made some moves toward the center, her economic focus remains on consumer protection.
With the election approaching, the firm suggests that Harris has limited time to define her economic policies and differentiate herself from President Trump. Despite some expectations for a shift towards more business-friendly ideas, Harris seems intent on addressing voters' concerns about costs.
Overall, Evercore states that Harris's economic agenda is likely to prioritize consumer concerns over business interests. This could have implications for investors and businesses alike, as Harris continues to define her economic priorities in the lead-up to the election.