Economic Shifts and Tariff Implications

This chapter explores the current economic landscape, focusing on the impact of recent tariff policies on the U.S. economy. The discussion highlights the contrast between earlier market optimism and present concerns about growth, emphasizing the negative effects of heightened tariffs and tightening immigration policies. Additionally, the chapter examines the notion of U.S. exceptionalism in light of global economic changes, urging institutional investors to rethink their strategies amid these evolving conditions.