Trump Accounts Are a New Way to Redistribute Wealth

Published on May 11, 2026

Putting money directly into Trump accounts is fundamentally different: It goes directly to the beneficiaries. Whether it will be more effective at improving prosperity or reducing populist anger is unclear. The public/nonprofit model can be better targeted and address specific societal needs, such as hunger or education.

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Looking Through the Energy Cost Shock—Stronger Earnings, Lower Tail Risks

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In this month’s Allocation Views, the Middle East conflict and its impact on the global economy in 2026 continue to be the chief concern for asset allocation, as inflationary pressures challenge central bank policy.

AI: The Good, the Bad and the Ugly

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