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,The first half was notable because the tariff chaos, due to the current administration’s trade policies, caused a 20% selloff in the stock market before Wall Street dismissed them as not to be taken seriously.

At the time of this writing, Trump tariffs continue to evolve outrageously, with diminishing impact on the stock market. The imposition of a 50% general tariff on the imports of Brazil, for example, as a punishment against the people of Brazil for their judicial treatment of former president Jair Bolsonaro, raises eyebrows considering that the U.S. has run a trade surplus with Brazil for 18 years. The sudden lack of volatility can only be explained by the fact that hard economic ...

Former Treasury Secretary Janet Yellen said this week that President Trump has taken a “wrecking ball” to the economy and could not give a “passing grade” to its handling thus far. The financial markets would agree with her. The utter chaos and uncertainty of the past two weeks make any analysis going forward difficult at best.

Because tariffs are inflationary, long term Treasury bonds have been selling off, causing long bond yields to rise worldwide. President Trump has asked the Fed to lower rates, and the Fed refuses to do so because this would fuel inflation. As consumers recoil and households feel less wealthy due to a declining stock market and higher unemploymen...