Bloomberg Talks Vice Chairman at Goldman Sachs Robert Kaplan Talks Trade War's Impact
Apr 28, 2025
Robert Kaplan, Vice Chairman at Goldman Sachs and former president of the Federal Reserve Bank of Dallas, shares insights on the looming risk of recession and the intricate factors driving economic uncertainty. He discusses the impact of trade tensions on local businesses, especially in agriculture and inflation management. Kaplan highlights the challenges faced by the Federal Reserve amid unclear economic data and examines how shifts in immigration trends affect the labor market and competitiveness, advocating for strategies to mitigate these challenges.
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Key Economic Changes Unfolding
- Three major changes affect the economy: government spending cuts, immigration policy changes, and tariffs.
- Uncertainty about the Trump administration's tariff negotiation targets heightens economic unpredictability.
Kansas Businesses Under Trade Threat
- Kansas faces significant threats from trade disruptions due to its large agricultural and aerospace sectors.
- Small businesses there fear prolonged uncertainty could force many to close.
Signs of Economic Slowdown Emerge
- Some sectors like travel and shipping are already slowing, reflecting weaker economic momentum.
- Many expect more pronounced growth declines as pre-ordering effects wane.