Greenlight Capital's David Einhorn believes the outcome of the U.S. presidential election is insignificant to the markets, as he sees elevated inflation on the back of a burdening fiscal deficit under both candidates.
"From a market perspective, we don't think it matters very much who wins," Einhorn wrote in a letter to investors dated Tuesday.
We believe this supports our ongoing expectations of higher secular inflation in the coming years."
Vice President Kamala Harris has entered the race following President Joe Biden's exit, going head to head with former President Donald Trump in the November election.
The federal debt is now at $34.5 trillion , or about $11 trillion higher than where it stood in March 2020.
Persons:
Greenlight Capital's David Einhorn, Einhorn, Kamala Harris, Joe Biden's, Donald Trump, Biden, — CNBC's Michael Bloom
Organizations:
U.S, Brighthouse, ODP Corporation, HP, Kyndryl Holdings, Consol Energy