Wealth Management Firm Glenmede: "Don't Fight the Trump Administration" Is the New "Don't Fight the Fed"

According to a report by Jinse, less than 100 days into the second Trump administration, traders have realized a new reality: Trump may be more willing than expected to disrupt global trade to boost domestic manufacturing and reduce trade deficits with other countries, especially following the "Liberation Day" tariff announcement on April 2. This new reality has rattled the U.S. stock market. Mike Reynolds, Vice President responsible for investment strategies at Glenmede, stated, "The result is akin to an external shock, like the COVID-19 pandemic. People often say, 'Don't fight the Fed,' and 'Don't fight the executive office' is the new 'Don't fight the Fed.'"