PXI - Market Outlook: A Bumpy Path

2025-04-24 05:50:00 ET

Summary

Markets have been stumbling over tariff plans, but tax reform and deregulation could eventually smooth the way for investors.
The tariff overhang and the commensurate growth scare have pulled the Federal Reserve back into the narrative.
While the scope and disruption of tariff announcements has been broader than anticipated, we believe that the U.S. will likely avoid a meaningful and protracted economic deceleration; we are not projecting a recession in 2025.

By Shannon L. Saccocia, CFA

Markets have been stumbling over tariff plans, but tax reform and deregulation could eventually smooth the way for investors. ...

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