March 2025
Investors anticipated tax cuts and deregulation after the election but overlooked the full impact of tariffs, which are now unsettling business planning and sentiment. While uncertainty can slow economic growth, history shows that geopolitical events rarely cause recessions—thus the risk of a major bear market is low.
February 2025
Trade tensions have escalated significantly with new US tariffs imposed on imports from Canada, China, and potentially, the EU. While the longer-term impact is uncertain, the administration’s goals appear to be increasing tariff revenue and reducing the trade deficit. Despite some concerns from companies, the broader economic effect will likely be limited if US economic growth remains strong.
January 2025
The U.S. economy led global growth in 2024, fueled by a strong labor market, easing inflation, and resilient consumer finances. These key factors underscore continued growth and support an optimistic economic outlook for the year ahead.
