""The higher energy and other commodity prices caused by the war threaten to do even more economic damage than the tariffs, further undermining growth and pushing inflation higher," said Mark Zandi, highlighting the dual impact of tariffs and war on the economy."
""Americans are facing a barrage of economic headwinds. Many employers have paused hiring, adopting a wait-and-see approach thanks to Trump's tariffs," illustrating the cautious stance of employers amid economic uncertainty."
""That combination has some economists whispering the dreaded S-word: stagflation, economists' favorite portmanteau for a brutal combination of stagnating growth and persistent inflation," indicating the serious economic concerns arising from current conditions."
On Liberation Day, President Trump praised tariffs for boosting American wealth, despite a significant market crash that saw a 10% loss in wealth. The reinstatement of tariffs contributed to inflation, while the ongoing Iran war exacerbated economic challenges. Employers are hesitant to hire, and tech firms are reducing staff due to AI. Inflation remains above pre-pandemic levels, and economists warn of stagflation as growth stagnates and inflation rises, worsened by energy price shocks from the conflict.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]