Incumbent US President Donald Trump lost the 2020 presidential election to Joe Biden because he took the coronavirus pandemic too lightly and lacked majority support, Danish Saxo Bank investment director Steen Jacobsen told RIA Novosti.
He agreed that the coronavirus situation in the US had undermined voters’ confidence in Trump. “Yes, I agree. Trump was too naive about the pandemic, not trusting the science. Distrust of science will always backfire on you, and yes, in general the majority wanted Trump out of office,” Jacobsen believes.
In his view, economic growth in the country will be slow to recover. “The states are focusing too much on the stock market situation compared to the situation of small and medium-sized businesses. The US is lagging behind and the political and economic divide will cost the country growth over the next few years. Fiscal stimulus will be at the top of the agenda in the near to medium term,” believes the top manager.