Eyes on the Economy US Deficits and Tariffs: Clues from Trump’s Nominees
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Dec 4, 2024 Avery Shenfeld discusses the implications of Trump’s economic nominees on federal deficits and bond markets. Concerns about rising deficits are juxtaposed with mixed economic signals affecting treasury yields. The podcast delves into the uncertainty surrounding U.S. trade tariffs and their potential impact on relationships with Canada and other trading partners. Conflicting views within the administration on tariff effectiveness highlight the complex economic landscape. The conversation wraps up with insights into future economic trends.
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Treasury Rally
- Recent U.S. treasury sell-off was initially tied to deficit fears under Trump.
- The subsequent rally may be due to reassurance from Trump's appointees, not solely economic data.
Trump's Fiscal Team
- Trump's cabinet nominations suggest varied fiscal approaches, with some aiming for deficit reduction.
- Appointees like Scott Bassett and Russ Vought signal potential fiscal conservatism within the administration.
Tariff Uncertainty
- Trump's stance on tariffs remains uncertain, despite some appointees favoring free trade.
- Conflicting views within the cabinet create uncertainty about future trade policy.