SPXU - Monthly Macro Monitor - January 2019
A Return To Normalcy
In the first two years after a newly elected President takes office he enacts a major tax cut that primarily benefits the wealthy and significantly raises tariffs on imports. His foreign policy is erratic but generally pulls the country back from foreign commitments. He also works to reduce immigration and roll back regulations enacted by his predecessor. This President is widely rumored to have had numerous adulterous affairs and his administration is wracked by repeated scandals. He often seems overwhelmed by the job of President and confides to friends that he