Joe Biden has now marked more than 100 days of his term as President of the United States. While he has been a lot quieter on Twitter than his predecessor, that is not for a lack of activity.

President Biden has signed a $1.9tn stimulus package, put together a $2tn package of infrastructure spending and unveiled a $1.8tn package of reforms on issues such as healthcare and labour laws.

By common consensus, Biden is governing more radically than he campaigned. So what does this mean for investors and global markets?

This week FTAdviser digital editor Damian Fantato is joined by Ed Smith, head of asset allocation research at Rathbones, and Ilan Chaitowitz, manager of the Nomura Global High Conviction fund, to discuss this.

They discuss whether Biden's greater radicalism shows investors and markets can stomach more than expected, what impact the US stimulus might have globally, if debt ultimately doesn't matter all that much and whether the stimulus even matters if trade continues to be tense.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues.

The FTAdviser Podcast is designed to inform regulated UK advisers on a range of topics, covering investments, pensions, regulation and other key issues.

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