Does McDonald's Have a White Knight in the Trump Administration?

Minimum wages went up across the country on New Year's Day, which could cause McDonald's (MCD) - Get Report franchisees to raise prices. If they raise prices too much, low-income diners may reduce their visits. That wouldn't be good news for McDonald's, especially as sales are slow right now.

The white knight for McDonald's may come in the form of Trump's nominee for Labor Secretary, Andrew Puzder. He has been a vocal opponent of higher minimum wages. But Puzder is reportedly reconsidering taking the role due to backlash from Democrats and labor unions.

This article was written by a staff member of TheStreet.