Hardline consolidation
−0.6%
Stephen Miller uses the chief of staff role to centralize policy execution after Susie Wiles’ resignation and the Republican midterm defeat. The most likely direction is a sharper focus on immigration enforcement, executive authority, and nationalist economic policy, with fewer internal restraints than under Wiles.
What it moves
- Consumer Cyclicals−0.8%
- Technology−0.4%
- Market volatility
- Riskier companies' borrowing costs
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