Midyear Outlook 2025 - Pragmatic Optimism

Volatility, as defined by Merriam-Webster, is “a tendency to change quickly and unpredictably” — a fitting description of the 2025 environment. The volatility has stemmed from assuming President Trump's second term policies would mirror his first, as well as the subsequent impact of those new policy directions.

As more hard data becomes available, we will all need to carefully evaluate the true economic impact of these policy shifts — plus consider the possibility the administration may pivot towards a more pro-market policy as the 2026 mid-term election nears. Given the array of potential outcomes, investors should prepare for ongoing uncertainty and the market volatility that may accompany it.

To read the interactive version of the outlook, please click here. 

To download the full outlook, please click here.