I ended last week’s commentary with this note: “I hear from Wall Street that the flurry of rapid-fire statements and executive orders coming out of left field is becoming very challenging for the market. With everyday a “day of thunder,” Trump is burning through his political capital at an alarming rate, not only with allies but with citizens, risking the long-term effectiveness of his Administration. How long Congress and the courts will permit him to challenge the constitutional system, effectively breaking down the idea of checks and balances, is moot; but this must eventually come to a head, especially if inflation revives…
A Macro Market View by Hubert Marleau
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