Thoughtful Money with Adam Taggart Economy "Very Shaky", Unemployment Likely To Surge | Anna Wong, Bloomberg
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Nov 28, 2024 
In this discussion, Anna Wong, Chief U.S. Economist for Bloomberg Economics, shares insights from her extensive experience at the Federal Reserve and U.S. Treasury. She addresses rising unemployment and the economic implications of tariffs and trade policies. The conversation highlights the disconnect between the labor and financial markets, consumer struggles due to rising living costs, and the anticipated economic impacts of the incoming administration. Wong offers both caution and hope regarding future recovery and the challenges ahead.
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Shaky Economy
- Wall Street has been distracted by the US election, dismissing economic cracks.
- Trump inherited a shaky economy, and the labor market is cooling.
Market Focus
- Market moves have focused on the US election, with pluses and minuses.
- Markets are refocusing on plausible Trump administration policies based on personnel choices.
Tariff Impacts
- Tariffs' inflationary impact depends on the targeted goods and current economic conditions.
- Targeting intermediate and capital goods with tariffs can minimize inflation but hurt employment and profits.