Onward, a Fundrise Production 45: How tariffs will impact the economy, with Anna Wong, Chief US Economist at Bloomberg
11 snips
Apr 7, 2025 
Anna Wong, Chief U.S. Economist at Bloomberg, brings her extensive experience from the Federal Reserve and the U.S. Treasury to discuss the impact of tariffs on the economy. She highlights the challenges of navigating current U.S. trade policies and the potential for recession and stagflation due to rising tariffs. Wong also reflects on the early pandemic response and its lessons, while addressing the implications of political biases in economic decision-making at the Federal Reserve and the future challenges facing China.
AI Snips
Chapters
Transcript
Episode notes
Initial COVID-19 Response
- Anna Wong recounts being in the White House Situation Room during initial coronavirus discussions, initially seen as a "China problem".
- She admits her initial forecast, based on SARS, was a major error, highlighting the importance of open-mindedness in uncertain times.
Trump's Trade War Rationale
- Trump's trade war aims to address a perceived "suboptimal equilibrium" where the US engages in free trade while others don't.
- He believes this has hurt US manufacturing and supply chain resilience, key priorities for national security.
Trade War Success Metrics
- A successful trade war scenario, from Trump's view, involves increased domestic manufacturing and foreign investment.
- Lower treasury yields are another measure of success, potentially mitigating the fiscal debt burden.