WashingtonWise

Market Turmoil: It's More Than Just Tariffs

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Mar 13, 2025
Kevin Gordon, Director and Senior Investment Strategist at the Schwab Center for Financial Research, shares his insights on the tumultuous market landscape. He discusses the real impacts of tariffs beyond initial threats, including labor market implications and inflation concerns. Gordon highlights recession risks and challenges the Fed faces in maintaining balance. Investment strategies are explored, advocating for a defensive approach amid changing market conditions. The conversation also touches on the evolving political climate affecting economic stability.
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INSIGHT

Tariffs and Inflation

  • Tariffs cause a one-time price increase, not necessarily sustained inflation.
  • However, retaliatory tariffs and trade wars can lead to continuous price hikes, making tariffs inflationary.
INSIGHT

Tariff Impact on Households

  • Tariffs' cost outweighs tax cut benefits for most Americans, according to Peterson Institute.
  • Essential food items like lettuce, tomatoes, oats, and potatoes face significant tariff increases.
INSIGHT

Immigration and Economic Growth

  • Removing unauthorized immigrant workers, who are almost 5% of the U.S. workforce, would significantly reduce economic growth.
  • Immigrants have higher labor force participation than native-born workers, contributing substantially to economic expansion.
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