New conditions, not new approaches. From my presentation (PDF) yesterday for MCFR:
Source: Yale Budget Lab, accessed 4/12/2025.
Additional 60% tariffs on Chinese imported goods.
New conditions, not new approaches. From my presentation (PDF) yesterday for MCFR:
Source: Yale Budget Lab, accessed 4/12/2025.
Additional 60% tariffs on Chinese imported goods.
Meanwhile after throwing the US economy into disarray – the US demented wanna be king-baby throws up his pudgy little hands: President Donald Trump said he would set tariff rates for US trading partners “over the next two to three weeks,” saying his administration lacks the capacity to negotiate deals with all of its trading partners. “lacks the capacity” – while the inner circle of sycophantic oligarchs go along for the middle east trip making sweet deals.
Only sort of off topic – Japan’s GDP fell in Q1:
https://www.reuters.com/business/japans-economy-shrinks-annualised-07-jan-march-2025-05-16/
Trade was a drag, while consumer demand was flat. There is probably more trade harm to come.
As always with Japan, it’s worth looking at GDP per capita, which has held up pretty well, but we won’t have official data on that until after year end.
Anyhow, global growth is important to U.S. growth, though that channel of influence is badly distorted right now. Japan is shrinking, Chinese and South Korean growth stunted. Y’all know about Europe’s impending military-Keynesian lift, but other than that, Europe ain’t great and Europe may horde the benefits of military spending.