The Trump bump for the US economy may soon flatten.
Like many other investors, Northern Trust Wealth Management— which has $287 billion in assets under management — had taken the view that tax cuts and other policies would inject more fuel into the US economy. The firm oversees $1.2 trillion overall.
But at a meeting last week the firm downgraded its views, saying that a year from now the economy may not live up to the lofty expectations. In that sense, it’s a wake-up call for investors with rosier outlooks than theirs.