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1Q18 CIO Commentary

1Q18 CIO Commentary

In this quarter's CIO commentary, we look at GOP tax cuts effects on GDP and deficits, growing tensions with Russia, and analyze the Trump's Chinese tariff threats.

The New Hidden Tax

The New Hidden Tax

Lost in the news of the surging US stock market is the concurrent weakness of the US dollar. This week US Treasury Secretary Steven Mnuchin endorsed the dollar decline in Davos, sending it down further.

Ray Dalio, founder, chairman, and chief investment officer of the world's largest hedge fund, Bridgewater Associates, had this to say about the declining dollar: