UBS On-Air: Market Moves Top of the Morning: CIO Strategy Snapshot - Latest on tariffs & the economy
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Feb 10, 2025 Explore the latest on tariffs and their ripple effects on the economy. Delve into the recent jobs report, revealing growth in job creation and wages, despite some unexpected figures. Examine how inflation data could sway Federal Reserve policies. Discover insights into technology stocks and strategies for navigating market uncertainties. This engaging discussion sheds light on the intersection of labor market trends and economic forecasts.
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Tariff Developments
- President Trump's expected tariffs on steel and aluminum are not surprising, given similar actions in his first term.
- More concerning are his comments on reciprocal tariffs, which could significantly impact trade depending on the details.
Jobs Report and Economy
- January's jobs report, along with prior months' revisions, indicate strong job growth.
- This, plus rising hourly earnings and increased participation rates, suggests the labor market is stabilizing.
Inflation Risk and Fed Policy
- Inflation poses a greater risk than growth, particularly due to rising hourly earnings and potential tariff impacts.
- The upcoming CPI data and Fed Chair Powell's testimony will be crucial for understanding future monetary policy.