- Tariffs to also cause many to consider greater probability of recession
- US economy had at least until recently, continued to be resilient
- Consumers are still spending but there is some recent weakening
- The economy is facing considerable turbulence
- The potential positives are tax reform and deregulation
- The potential negatives are tariffs, trade war, ongoing sticky inflation, high fiscal deficits, still rather high asset prices and volatility
- We are likely to see inflationary outcomes
- Whether or not the menu of tariffs causes a recession remains in question
- But it will slow down growth
- The quicker all of this is resolved, the better because some negative effects increase cumulatively over time and would be hard to reverse
This article was written by Justin Low at www.forexlive.com.
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