how to explain the effect of presidential election?

federal funds rate rise and M2 growth rate decrease immediately following an election and for the federal funds rate to fall and the M2 growth to increase as the next election approaches

Elections have surprisingly little effect on markets. Expect the same this time.

i’ve read some papers by gerald jensen that showed that went into depth about the effects of when different political parties are in control. he showed that it basically doesn’t matter who’s president or who controls congress. what matters more is fed policy. its pretty interesting, but you probably have to buy it to read it