Don’s Insights in the News

• Wall Street Journal: “Whatever the president announces tomorrow can easily be undone the next morning,” said Don Calcagni, chief investment officer at Mercer Advisors. “As a professional investor, I want permanence. I don’t want the rules to keep changing.”
• Reuters Newswire (via Fidelity.com): “Right now we’re all waiting with baited breath to see what the ultimate tariff policy will be. Seeing a little bit of a selloff is not surprising,” said Don Calcagni, chief investment officer at Mercer Advisors in Denver.
• CNBC: “The market still doesn’t have the certainty that it wants,” said Don Calcagni.
• MarketWatch (via Morningstar): “[Fed Chair Jerome] Powell has such a difficult job right now. … [Policy makers] don’t want to be too forward-looking, and they don’t want to provide commentary on public policy, especially when those policies are not really clear on, one, whether they are permanent, and number two, what the actual quantitative impact is going to be,” said Don Calcagni, chief investment officer at Mercer Advisors. “My expectation would be Powell is going to really dodge a lot of that [tariff impact] and focus on the data that we’re currently seeing.”

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