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When Wall Street strategists were cheering on President Trump’s electoral victory and projecting another rosy year for U.S. stocks, J.P. Morgan’s Michael Cembalest was taking a decidedly different tack.
While others insisted that Trump’s tariff threats were likely a negotiating tactic and that investors should focus on the more pro-growth elements of the president’s agenda, Cembalest, the chairman of market and investment strategy for J.P. Morgan’s asset- and wealth-management business
JPM, advised that it would be prudent to take Trump at his word.
This post was originally published on Market Watch
