What We’re Watching in May
As the first quarter of 2025 experienced relative calm in the financial markets, April surprised investors with sharp pullbacks, increased volatility, and rising investor worries. While market swings are nothing new, the reemergence of tariffs, one of the Trump administration’s policy tools, has added uncertainty in the minds of investors and business leaders. For many, this month felt less like a typical bump in the road and more like a sudden derailment.
At Carnegie, we see this moment as a valuable reminder that staying grounded in the face of short-term noise is critical to long-term investing success.