Diccon Hyatt

Key Takeaways Lowering prescription drug costs was at the top of the wish list for Trump administration actions, according to a survey of voters in the Nov. 5 election. Voter anger over consumer price increases under Biden helped sweep Republicans into office. Biden took action to lower drug prices as part of the 2022 Inflation Reduction Act, and price cuts go into effect in 2026.

Key Takeaways Federal Reserve officials have publicly avoided commenting on what Trump's election victory means for the economy. Although the Federal Open Market Committee's meetings take place behind closed doors, transcripts of 2016 meetings suggest officials could be grappling with what another Trump presidency could mean for the economy. Financial markets are preparing for Trump's policies to stoke economic growth and inflation and are betting that the Fed will respond by keeping interest rates higher.

The Consumer Price Index (CPI) rose steadily in October, at a pace likely modest enough to keep the Federal Reserve on course to cut interest rates again.

Key Takeaways President-elect Donald Trump has asked billionaire Elon Musk to identify ways to cut the federal budget. Musk has called for $2 trillion in cuts, nearly one-third of the entire federal budget, and more than the biggest federal expense, the $1.45 trillion spent on Social Security.

Homes are hardly affordable anywhere in the country, except for small-town America, where a typical salary still buys a typical house.

Key Takeaways The Republicans won the White House and majorities in both chambers of Congress. The party's sweep of the 2024 election puts it in a position to enact Donald Trump's agenda of high tariffs, lower taxes, and mass deportations. Trump's policies could dramatically reshape the U.S. economy if and when they are put into effect.

Key Takeaways An index measuring how homebuilders rate the outlook for sales rose to its highest in more than two years in November after Donald Trump's victory in the 2024 presidential election. Builders may be expecting wealthier buyers to jump into the market now that the extension of Trump's 2017 tax cuts seems inevitable.

Investopedia / Photo Illustration by Alice Morgan / Getty Images

Key Takeaways The pace of homebuilding slowed in October as the weight of high mortgage rates continued to drag down the overall market. Builders may also have been riding out hurricanes and uncertainty about the presidential election's outcome. Those setbacks may be temporary, as Donald Trump's election boosted confidence among homebuilders about the outlook for the future.

Key Takeaways Sales of existing homes rose 3.4% in October, and were up 2.9% year-over-year, the first annual sales increase since July 2021. Despite the uptick, sales remained well below historic levels, as high prices and mortgage rates have made payments unaffordable for many would-be buyers. Mortgage rates are currently near 7% and may dip to the 6% range in the coming months but are unlikely to return to the pre-pandemic range of 3%-5%, one housing economist said.