

Will Kamala Harris Be Given the Chance to Become the Most Powerful Woman in the World? Are We About to Have the First Female President of the USA?
Introduction
The possibility of Kamala Harris becoming the first female President of the United States has been a topic of significant discussion this morning 22nd July 2024. As the current Vice President, Harris stands closer to the presidency than any woman in American history. This blog explores the potential of Harris ascending to the presidency, the implications for financial markets, bond markets, and auctions worldwide, and the broader impact on society.
Kamala Harris: A Historic Figure
Kamala Harris has already made history as the first woman, first South Asian American, and first Black Vice President of the United States. Her nomination and subsequent election to the vice presidency symbolize a significant milestone in the evolving role of women in American politics. Harris’s rise to the White House creates necessary visibility for people from underrepresented backgrounds, broadening the horizons of what is possible.
Kamala Harris

The Path to Presidency
The discussion about replacing President Joe Biden with Vice President Kamala Harris atop the Democratic ticket has gained serious traction. If Harris becomes the Democratic nominee and wins the presidency, she would be the first woman to serve in this role. However, her tenure might come with an asterisk since she may not have beaten a crowded field in a full primary. If she loses, it could impact the perception of future female candidates.
Economic Policies Under a Harris Administration
Investors should expect a potential Harris administration to defend the economic policies instituted during Biden’s term. This includes a 15% corporate minimum tax for large corporations and negotiations over the extension of the 2017 tax cuts. Harris’s long ties to big tech firms could be beneficial for tech investors. However, her lack of a long track record on economic policy might pose challenges.

Impact on Financial Markets
A Harris presidency could have several implications for financial markets. The continuation of Biden’s economic policies might lead to more fiscal restraint, especially if Republicans control at least one chamber of Congress. This could result in a more stable economic environment, which is generally favourable for financial markets.
Bond Markets and Auctions
The bond markets might react positively to a Harris administration if it continues to support fiscal policies that promote economic stability. However, the need to negotiate over tax cuts and other fiscal policies could introduce some uncertainty. Auctions worldwide, particularly those involving U.S. Treasury bonds, could see increased activity as investors seek safe-haven assets in a potentially volatile political landscape.
Broader Societal Impact
Harris’s potential presidency would have a profound impact on the next generation of women and people from underrepresented backgrounds. Her election would put to rest the question of the electability of women to high office and inspire future generations to pursue leadership roles. Harris’s gender and race lens would bring a unique perspective to the White House, influencing policy in unprecedented ways.

In Conclusion
The possibility of Kamala Harris becoming the first female President of the United States is a historic and transformative prospect. Her presidency could bring significant changes to economic policies, financial markets, and societal norms. As we stand on the brink of potentially having the first female president, the world watches closely to see how this unprecedented event will unfold and shape the future.
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World of auctions has pleasure in providing a early comprehensive overview of Kamala Harris’s potential path to the presidency and its implications and we hope provide context to the discussion.