Commonwealth Club of California Podcast
The Economy 2025: The Impacts of Tariffs, Tax Cuts and Trump
Feb 4, 2025
Join Mary Daly, President of the Federal Reserve Bank of San Francisco; John H. Cochrane, Senior Fellow at the Hoover Institution; Baie Netzer, Investment Strategist at Bank of America; and Susan Hyde, Political Science expert from UC Berkeley. They dive into the economic forecast for 2025, discussing the impacts of tariffs, tax cuts, and inflation. Insights on income inequality and its effects on democracy are also examined. The conversation highlights the resilience of the U.S. economy amid changing political landscapes and evolving policies.
01:10:35
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Quick takeaways
- The U.S. economy in 2025 is projected to benefit from solid growth, low unemployment, and increased consumer spending due to rising wages.
- Policy shifts in tariffs and trade agreements may create volatility yet also present opportunities for growth in manufacturing and renewable energy sectors.
Deep dives
Economic Outlook for 2025
The U.S. economy is starting 2025 from a strong position, characterized by solid growth and a healthy labor market. The Federal Reserve is focused on balancing monetary policy to bring inflation down toward its 2% target while maintaining full employment. Optimism among business leaders is evident, with recession fears diminishing as recovery from the pandemic progresses. However, challenges remain, including various uncertainties that policymakers must navigate thoughtfully.
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