Twelve small reasons for modest hope
This week's slightly encouraging news
Friends,
My heart leapt last Saturday when I saw how many people turned out for the Hands Off protests: More than 1,200 rallies were held across all 50 states — drawing an estimated 3 million participants. Even red states like Alaska, Wyoming, South Dakota, and Kentucky had well-attended protests.
Across the land, demonstrators were peaceful, civil, and respectful; the atmosphere was buoyant and joyful — yet determined.
There were other reasons for modest hope this week. Herewith:
1. Trump’s wild retreat on tariffs.
Trump has called tariffs the key to American prosperity and said trade wars are easy to win. But investors think otherwise, and on Wednesday Trump decided maybe investors are right. It was a large and embarrassing retreat.
After a flight from U.S. assets and a rout in the bond market, Trump announced a pause for 90 days on the worst of his “liberation” tariffs on most countries, China excepted.
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