A recent court decision, Kwong v. United States, could result in significant refunds of penalties and interest paid by taxpayers during the COVID-19 era.
AMG National Trust Bank examines how intensifying geopolitical conflict and accelerating artificial intelligence investment create opposing forces for the mid-2026 economic outlook. The commentary describes conflict-driven energy inflation alongside AI capital spending that supports growth and asset prices, and considers the implications for inflation, interest rates, risk assets, and portfolio positioning for trust clients through the remainder of the year.
AMG National Trust Bank’s second-quarter 2026 Notes on the Economy summary reviews U.S. growth heading into mid-year. It reports first-quarter real GDP growth of 2.0% annualized and consumer spending growth of 1.6%, and discusses how household consumption, labor-market conditions, and monetary policy shape inflation and interest-rate outlooks and what the growth-inflation mix means for diversified portfolios managed for private wealth clients.
