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How will 2026 play out? A lot depends on whether Trump sticks with his traditional cautious approach or genuinely believes he's left his past policy constraints behind. The shift in his risk appetite could reshape the economic landscape for the entire year ahead. If he turns more aggressive on policy fronts, markets might face significantly different headwinds—or tailwinds. The question isn't just what he'll do, but whether his instincts have fundamentally changed.