Private equity,private credit, and other so-calledalternative investments have historically been limited toinstitutional investors (e.g.,pension plans and university endowments) andhigh-net-worth individuals because of their complexity, lack of transparency, and high fees. ATrump administration proposal may pave the way for private markets to be included indefined contribution plans, such asIRAs and401(k)s.

President Trump’s latesttariff salvo targets two major trading partners:Mexico and theEuropean Union. Trump is calling for a 30 percent tariff to take effect August 1. Whether he’ll follow through on the threat has become a familiar wager onWall Street: The strategy bets that the president will ultimately retreat from his mostextreme tariff measures, a pattern that has paid off for many investors.

Trump has broached the subject of oustingFederal Reserve ChairJerome Powell, and it has nothing to do with Powell’s handling of theeconomy. Rather, the president and administration officials say Powell’s mismanagement of $2.5 billion in renovations to two Fed buildings are grounds for his dismissal. But critics say the real issue is Powell’s resistance to political pressure. His term ends in May 2026.