Trump healthcare picks provide clarity, but uncertainty abounds
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Trump picks Bessent as Tsy Sec.
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TRUMP HEALTHCARE PICKS PROVIDE CLARITY, BUT UNCERTAINTY ABOUNDS
President-elect Donald Trump has been busy selecting more of his healthcare cabinet, a cohort RBC equity analysts admit is non-traditional, but not as unorthodox as the RFK, Jr. pick, a fact that could provide some market relief.
Nominations in recent days include surgeon and writer Martin Makary to lead the FDA, television personality and surgeon Dr. Mehmet Oz to serve as administrator of the Centers for Medicare and Medicaid Services, family medicine doctor and Fox News contributor Janette Nesheiwat as surgeon general and former congressman and a medical doctor Dave Weldon to direct the CDC.
According to the RBC team, the picks so far "reflect a mix of vocal "reformer" types with reasonable expertise and high media visibility, but limited direct operational/policy experience and an occasional dash of pseudoscience".
They say it effectively represents a delayed backlash against COVID mandates/lockdowns and a more anti-establishment cultural shift to U.S. healthcare leadership.
The potential impact of Trump's healthcare picks has already been seen in stock markets. Major U.S. and European drugmakers slid on November 15 as traders reacted to selection of Robert F. Kennedy Jr. to head the Department of Health and Human Services, the top U.S. health agency.
Overall though, RBC thinks that the fact that the recently picked group isn't nearly as unorthodox as RFK, Jr., could assuage some worries about drastic changes to the healthcare system.
(Lucy Raitano)
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MONDAY'S OTHER LIVE MARKETS POSTS:
POSITIVE OUTLOOK FOR EUROPEAN LUXURY, BUT POLARISATION CONTINUES - UBS CLICK HERE
STOXX STARTS ON POSITIVE FOOTING CLICK HERE
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