Wealth manager Glenmede: "Don't fight the Trump administration" is the new "Don't fight the Fed"
2025-04-23 20:47:34
Less than 100 days into Mr. Trump's second administration, traders have woken up to the reality that Mr. Trump may be more willing than expected to upend global trade to increase domestic manufacturing and reduce trade deficits with other countries, especially after the April 2 "Liberation Day" tariff announcement. This new reality has roiled US stocks. "The result is the equivalent of an external shock, like the COVID-19 pandemic," said Mike Reynolds, vice-president of investment strategy at Glenmede, a wealth manager. "People often say, 'Don't fight the Fed,' and'Don't fight the Oval Office 'is the new'Don't fight the Fed.'"
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