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Market watchers may be relieved by Bannon’s dismissal, interpreting it as a sign of President Donald Trump’s way of distancing himself from white nationalism after his comments on Saturday’s violence in Charlottesville, Virginia.
Traders anticipate that stability in the administration’s team could further streamline Trump’s attempts to push through pro-growth policies, such as tax cuts, deregulation and increased fiscal spending.
“Picking fights and getting criticized by members of one’s own party don’t help in pursuing one’s agenda,” Peter Boockvar, chief market analyst at The Lindsey Group, wrote in a note, according to Bloomberg.
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