Business Investment
October 14, 2025
U.S. NFIB Small Business Optimism Index (September 2025)
While a weaker showing, September's NFIB reading is basically in line with its historical average, but the subcomponents reveal a nuanced backdrop. In the absence of last month's (BLS) jobs report, today's NFIB report adds credence to the view that there was little progress made on the hiring front in September, with small business job creation stuck in shallow negative territory for several months now.
April 02, 2025
U.S. Liberation Day Binds The World To High Tariffs
The U.S. administration announced broad reciprocal tariffs today, targeting all trading partners, and not just the countries that run large trade surpluses with the U.S. The tariffs will be implemented under the International Emergency Economic Powers Act (IEEPA) of 1977.
January 06, 2025
Climate Policy in a 2nd Trump Term – What’s on the Chopping Block?
Climate policy is set to take a major U-turn under Donald Trump’s second term. The president-elect will likely prioritize rolling back regulatory powers and direct spending that expanded significantly under President Biden.
September 13, 2024
U.S. 2024 Election: Economic and Financial Implications
Elections matter for the economy, but financial markets are likely to be particularly attuned to the current election cycle given America’s unsustainable fiscal trajectory. The make-up of Congress will determine how much of the future President’s agenda can be implemented. A divided Congress will likely force the next President to make significant concessions relative to their current platform proposals.
