Fast Politics with Molly Jong-Fast Justin Wolfers & Peter S. Goodman
8 snips
Dec 6, 2025 
Economist Justin Wolfers and New York Times reporter Peter S. Goodman dive into the tumultuous economic landscape shaped by recent tariffs. Wolfers discusses the fallout from the Trump administration's policies, emphasizing the impacts on labor markets and investment uncertainty. Goodman elaborates on Costco's bold lawsuit challenging emergency tariffs, highlighting corporate pushback amidst widespread compliance. They also tackle the dark reality of lead recycling in Nigeria, urging accountability from battery makers concerning environmental and labor issues.
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Data Blackout Fuels False Certainty
- Government data delays from the shutdown left private proxies like ADP to fill gaps, producing noisy signals that fuel pessimism.
- Justin Wolfers warns that four weak private readings in a row justify caution but are not definitive without BLS data.
Tariffs And Uncertainty Hit Investment
- Tariff policy and policy uncertainty create two distinct economic shocks: direct cost increases and a pullback in investment.
- Wolfers says businesses fear arbitrary changes, lowering investment and slowing growth.
Immigration Drop Lowers Growth Momentum
- Immigration policy changes reduce population growth and disrupt labor supply, hurting demand and sectors like agriculture.
- Wolfers highlights that fewer people mean weaker GDP and job counts even if per-person activity holds.
