President Barack Obama put the spotlight on economic fairness and tax reform in an election-year State of the Union address on Tuesday that laid out his vision for turning the economy around.
Here is reaction from political and Wall Street analysts:
JAMES ANGEL,ASSOCIATE PROFESSOR OF FINANCE AT GEORGETOWN UNIVERSITY’S MCDONOUGH SCHOOL OF BUSINESS:
It’s definitely a campaign speech. He’s clearly running for re-election and trying to say all the right things.
He’s said all this great stuff about smarter regulation. Amen to that. But how is he going to get there from here? … He’s defending his reforms but it’s more chest thumping than anything.
ANDY LAPERRIERE,SENIOR MANAGING DIRECTOR AT THE INTERNATIONAL STRATEGY AND INVESTMENT GROUP,AND HEAD OF ITS POLICY RESEARCH TEAM:
People were expecting a populist speech and there were elements of that. But I think what you actually had is that almost everything he said,hardly anybody can disagree with. And that masks real policy disagreements.
Markets will be interested in the refinancing program and what exactly is that fee on the banks to pay for it. … If the banks pay for it,it could be a negative for the banks. But it could be a positive for the homebuilders. The details will matter. My initial reaction is that it’s not going to happen. You can’t do a big refinance plan for a small cost.