Bloomberg Businessweek Trump Tariffs Upend the Investing Class
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Apr 9, 2025 Max Abelson, a finance reporter for Bloomberg News, dives into the economic impact of the Trump administration's tariff policies. He discusses how global financiers are increasingly worried about rising soured loans and canceled deals. Initially optimistic about Trump's potential to boost the stock market, financial leaders are now grappling with disillusionment due to his unpredictable decisions. Abelson sheds light on the shifting landscape, as experts reassess their strategies amid these turbulent economic times.
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Unexpected Economic Fallout
- Financiers globally are bracing for negative economic consequences due to the Trump administration's policies.
- These consequences include soured loans, canceled deals, job losses, and paralyzed credit markets.
Misjudging Trump
- Following the election, there was a widespread misjudgment of Trump's economic approach.
- Many dismissed his chaotic tendencies and believed he would prioritize market stability.
Disappointment and Anger
- The financial elite are not shocked but rather annoyed and angry at the unforeseen economic downturn.
- They feel misled by Trump's previous actions and statements regarding market priorities.