Britain’s shocking decision to exit the European Union has caused tremors in financial markets around the world.

But what does Britain’s decision to split with the EU mean, not only for British citizens, but for Americans living “on the other side of the pond”?

“Britain’s exit created some immediate economic turmoil –including the British pound falling to 30 year lows and the Dow dropping more than 500 points; unfortunately, many American stockholders lost money,” says Gause. “

Gause says while a few experts are already predicting a worldwide “Brexit recession” or “Brexit depression”, what must be realized is that Britain’s actual exit from the EU could take several years – more than enough time for the element of “normalcy” to return to the marketplace.

“In the short term, the move by Britain could unsettle financial markets both in the U.S. and abroad, and likely lead investors to seek haven in safe assets outside of the U.K. and Europe. As investors shift into dollar-denominated assets, the dollar will gain strength against the euro and the pound,” says Gause.

“To minimize global aftershock, we’ll see our Federal Reserve bank keep interest rates unchanged to provide financial assistance to the U.K. and to countries negatively impacted by Britain’s departure – so once again the American taxpayer gets to cover the tab for financial snafus around the world.”

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