In their latest report, Lazard Asset Management discusses President Trump’s nomination of Stephen Miran to the Federal Reserve Board, noting that while Miran has been a vocal critic of Fed policies, his potential influence may be limited given the short remaining term. The analysis also highlights stronger-than-expected July trade data from China, with exports to the U.S. declining sharply but shipments to the EU and emerging markets rising significantly. Additionally, the Bank of England delivered a more hawkish-than-expected rate cut, with meeting details indicating heightened concern over persistent inflation that could slow further policy easing.
Lazard Asset Management serves as the Portfolio Manager of the Caldwell-Lazard CorePlus Infrastructure Fund.
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The information contained herein is intended to provide you with general information related to investment alternatives and strategies and is not intended to be comprehensive investment advice applicable to the circumstances of a specific investor. Commentary and portfolio characteristics are the opinion of the Portfolio Manager based on market conditions as of August 2025. References or inferences to returns do not take into account any management fees, transaction costs, commissions, custodial fees, taxes or other costs that apply when purchasing securities. We strongly recommend consulting with a professional advisor prior to making investment decisions.