Recent Commentary
Recent Commentary
After two years of 20%+ gains, the stock market[1] rally rolled over in February when the president dialed up his tariff threats[2]. The post-election rally fueled by promises of lower taxes and less regulation came undone over concerns about the administration’s transformational changes to the country’s policies on trade, immigration, and the size and function of our government.
[1]All references to the stock market are the S&P 500® unless otherwise noted
[2] NYTimes, Trump is About to Bet the Economy on a Theory That Makes No Sense, Jason Furman, Harvard University, March 31, 2025
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