February 16, 1999

With the Senate trial now over, President Clinton is turning his attention to protecting his place in history. He understandably wants to be remembered for something other than the impeachment, and is now in a position to change that legacy. Accomplishing this goal means Clinton will move quickly on an agenda that is still taking form. Clintons determination to change his now-tarnished image introduces a substantial amount of uncertainty into the both the economy and the markets. Crystal balls will now be asked to predict Clintons probable policy direction: Which initiatives will he propose, and, perhaps more importantly, will those policies bring the desired results? Were more than a little concerned about the remaining years of the Clinton administration.

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