Following President Donald Trump’s tariffs, KPMG chief economist Diane Swonk offers a bleak prognosis for the economy.
The risk of a recession has gone up, she says, as has the risk for stagflation. And the job of the Federal Reserve just got much harder.
Consumers are expected to pay for a lot of the new import taxes — with, for instance, tariffs on goods out of China up 34%.
For more on this grand economic shift, we’re joined by Mark DiPlacido, a policy advisor at the conservative-leaning economic think tank American Compass. He worked in the Office of the U.S. Trade Representative during President Trump’s first term.