Guardrails
Take a bow, Bill Ackman.
One of the things you hear among people who are worried about President Trump is that there are “no guardrails.” The Republican Party controls the House and Senate and voted to confirm Tulsi Gabbard and Robert F. Kennedy Jr. The Supreme Court is dominated by Republican-leaning justices. The cabinet and White House staff are loyal to Trump.
What, then, is the remaining check or restraint on Trump?
Take a bow, Bill Ackman. Take a bow, Dan Loeb. And, three cheers for our financial markets, which are deep and robust and remain able to send clear signals about the consequences of tariff and trade policy moves.
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