Markets head lower following a hawkish rate cut by the U.S. Federal Reserve. We discuss the reasons behind the Fed’s shift and if investors really need to fear higher rates caused by stronger growth.

The dollar’s role in the global economy is evolving, and its “exorbitant privilege” looks to be as well. We examine the greenback’s role as the reserve currency and the implications of the world’s changing currency appetites.

We explain why the details associated with the tariff saga are less important than overall investment strategy, and why investors should think about their long-term strategic allocation as an anchor during periods of extreme volatility.