"Tariffs are a stagflationary shock to the U.S. economy"40% to 45% chance of recessionexpects Q2 GDP up, driven by consumers making purchases ahead of tariffs coming into effectlargest negative impact on U.S. growth is expected during H2market reaction to tariffs and Trump's attacks on Federal Reserve chair Powell may have a long-lasting impactTrump's attack on Powell shows an "implicit admission of these negative effects" associated with the tariffsMarkets' reaction since the announcement of tariffs shows a loss of confidence in U.S. policies"Should we mark down estimates of real GDP growth for the U.S. over the next three to five years? Maybe, if you think there is a lasting structural damage to the economy due to compromising of U.S. institutions"
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Trump backing away from tariffs, backing away from firing Powell - will it last?Trump says he has no plans to Fire Federal Reserve Chair PowellTrump says he is going to be very nice to China, they have to make a deal
The Citi comments will be useful to refer back to if/when Trump reverses again.
Updating yen and euro:
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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