In yesterday’s commentary, which was prepared earlier in the week, I proposed looking at the estimated tariff shock as equivalent to a new $2/gallon gas tax.
As new tariff announcements have been made through this week, however, that estimate now appears to be too low.
I am traveling to Leen’s Lodge for Camp Kotok next week. I paused yesterday in Bucksport, Maine, looking across the water at Fort Knox (a Civil War-era fort), to comment on the evolving tariff shock in a Kotok Quick Take.
FL Gov DeSantis is trying to take the USF Sarasota-Manatee campus and transfer it to New College. IMO, this would be a disaster for the Sarasota-Manatee community and the state.
Trump’s Venezuela actions have lessened the Maduro threat to oil production in various South American countries. The outcome has possible bullish scenarios for oil.
Fishing trips start with morning coffee, so we pass on info from JAMA before discussing a recent fishing trip. ICE is last.
Treasury Secretary Bessent favors a “strong dollar.” He works for a president who has said he wants a weaker dollar. With a single chart, we examine what markets are saying.
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