By Seth Carpenter, Morgan Stanley chief global economist
Testing Our Assumptions
When we wrote our 2025 Outlooks in November, a key theme was uncertainty and in particular that our assumptions about the timing and implementation of policies from the new administration were critical, but just that … assumptions. A week after the inauguration, the information flow seems largely consistent with our public policy colleagues' call for “fast announcements, slow implementation,” but the uncertainty is far from resolved.
