Bloomberg Talks Massachusetts Senator Elizabeth Warren Talks Tariffs, Federal Reserve Monetary Policy
May 1, 2025
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Tariffs' Economic Damage
- Trump administration's tariffs have seriously damaged the US economy causing a "body blow."
- Families see grocery prices rising and the economy shrinking, contradicting Trump's promise to lower costs.
Tariffs Cause Stagflation Crisis
- Trump's tariff policies created stagflation, raising inflation and unemployment simultaneously.
- This hampers the Federal Reserve's ability to use interest rate adjustments effectively.
Congressional Control Over Tariffs
- Congress can curb Trump's unilateral tariff authority by voting to roll back his emergency powers.
- Republicans face a choice: support Americans or continue enabling Trump’s damaging policies.