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The upset presidential election victory of Donald J. Trump and the Republican hold of the House of Representatives and the Senate signal major changes ahead in both the federal government’s approach to growth and the Federal Reserve’s approach to monetary policy. Most evident will be a return of supply-side tax cuts, large operating fiscal deficits, and a move back toward more traditional monetary policies that, over time, should lead to higher short- and long-term interest rates.

With Republicans controlling both houses of Congress and the White House, there are three things to know about heading into 2017: (1) expect tax reform to be a high priority; (2) individual tax reform will focus on lower rates but expect to lost some deductions and credits; and (3) business tax reform will focus on rates, depreciation and international taxes.

As of December 31, 2014 the KL Felicitas Foundation’s portfolio was 99.50% invested in impact investments. The KL Felicitas Foundation has come a long way since it decided to explore the process of an investment portfolio 100% oriented towards positive impact. The road to achieving such a portfolio of impact investments was not straightforward nor completed overnight. Rather, the process was one of twists and turns that was not always swift, but ultimately the process brought the Foundation to its final destination.

What do the election results mean for healthcare? Like a chief executive hired to turn a failing company into a profitable one, president-elect Trump has said he will take an unflinching corporate approach to overhauling the US healthcare system. For an industry that prefers stability to surprises—and one that has worked to adapt to the Affordable Care Act—Trump’s “repeal and replace” agenda may create new uncertainty and opportunity for healthcare leaders. Trump’s corporate business tools will likely be challenged as he attempts to reshape the U.S.

The results of the 2016 elections for control of the White House and Congress will have a significant impact on the direction of tax reform over the next four years. President-elect Trump and the Republican-controlled Congress are expected to push for action on comprehensive tax reform that would lower both individual and business tax rates. Still, prospects for the enactment of such legislation remain in question, given differences between the two political parties on how much tax should be paid by upper-income individuals.

Defying the betting odds and pollster predictions, Donald Trump has pulled off an improbable victory. As an “unknown unknown,” Trump’s election introduces a level of policy uncertainty. Republicans hold the majority in Congress, but President-elect Trump will have to spend his early days building bridges to gain support for his agenda.

Donald Trump’s election as the 45th President of the United States on November 8 is expected to bring changes to the tax laws for individuals and businesses. President-elect Trump had made tax reduction a centerpiece of his economic plans during his campaign, saying he would, among other things, propose lower and consolidated individual income tax rates, expand tax breaks for families, and repeal the Affordable Care Act. As the next few weeks and months unfold, taxpayers will learn more about Trump’s tax plans.

On November 9, 2016, many Americans woke up to (or stayed awake for) an unexpected election outcome. As of that day, the downside for the DOW and the S&P 500 Index appeared to be less than the declines that occurred after the 2008 and 2012 elections. However, it is still early. During these uncertain times, it is best to stick with your investment plan as we wait to see how trends play out in the coming months and longer term.

There are many reasons to accept a position on a board of directors or as an officer of a company. The cause may appeal to you or you may see this as a way to give back to the community. You may derive additional compensation from this type of position, or it could be an honorary position. Whatever the reason, it is important to remember that with these additional responsibilities comes additional risk. By accepting a position as a director or officer, you can be held personally liable for the decisions made and actions taken in that professional capacity.

In this quarterly edition of the CIO Insights, the analysis is on the economic consequences of government policies, assessment of risk and uncertainty in financial markets, and a focus on generating returns in a low-growth world. There is also a look at renewed confidence in emerging markets, as well as a summary of our economic and market forecasts. While forecasts cannot directly measure risk, they do provide a way of understanding what is possible and what is not—and thus how to position portfolios accordingly.