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Market Fallout from Tariffs
- Markets fell for two consecutive days following President Trump's tariff announcement.
- J.P. Morgan increased the odds of a global recession to 60%, citing tariff-induced inflation and slower growth.
Historic Market Sell-Off
- The stock market sell-off is the worst since the pandemic, with failed rallies indicating investor concern.
- Markets are struggling to price in the tariffs and the uncertainty surrounding President Trump's policy approach.
Fed Chair's Warning
- Fed Chair Jerome Powell warned that the tariffs are larger than expected and will likely increase inflation and slow growth.
- Powell affirmed the Fed's commitment to addressing inflation but acknowledged the challenge of managing both inflation and slower growth.