00:00 Speaker A
Nick, it isn’t simply the US that’s liable to coming into right into a recession due to these tariffs. What are your sources telling you concerning the dangers globally for an financial slowdown?
00:13 Nick
Properly, it isn’t, it actually is not about sources at this level. It is about what, , you have a look at what, what the markets are doing proper now. The administration has been saying short-term ache for long-term achieve, however the market would not see it that manner. The greenback is down, bond yields are down, shares are down. Persons are speaking about greater inflation this yr, however with extra price cuts from the Fed, uh, in a while to cushion the hit to progress. I, I feel what you see right here is Wall Road going by the 5 levels of grief. Um, , we’re, we’re clearly out of the denial stage now, however whether or not we’re in anger, bargaining, melancholy, , I feel it will depend on your perspective which one you are in. We’re not at acceptance but. That is what we’re seeing occur this morning within the markets.
01:45 Speaker A
So Nick, actually fast, if we’re going by these 5 levels of grief, what does it take for the company executives who communicate to you anonymously and say that they’re fed up with these insurance policies to be just a little bit extra vocal in an effort to get the president to pause on a few of these insurance policies?
02:06 Nick
I feel that is a fantastic query. I, I do not assume we all know what it should take. Um, and it is, , we’re, we’re kind of in uncharted waters right here. Uh, so we’ll, we’ll simply have to attend and see. I, I feel that is the precise query proper now’s the place is, , persons are asking, the place’s the Fed put? I feel the query is the place’s the White Home put at what ache level do members of Congress and companies start to place strain on the White Home to, to, uh, , to barter or do, do no matter goes to occur right here.
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