TRUMP POLICIES UNLIKELY TO END U.S. EQUITY RALLY: WOLFE Wolfe Research says recent Trump policy shifts—tariffs, Fed issues, and stimulus moves—are unlikely to derail the U.S. equity rally. Analysts noted possible tariff refunds after a court ruling but expect markets to absorb the impact, even if Trump reinstates tariffs later. Concerns about Fed independence, including a potential firing of Governor Cook, are seen as having limited near-term effect. Wolfe also highlighted stimulus from the “One Big Beautiful Bill” and suggested weak payrolls may reflect immigration limits rather than soft demand. They expect these dynamics to support economic reacceleration into 2026. Bottom line: near-term policy risks look manageable, and markets remain supported through year-end.(*Walter Bloomberg)