San Francisco Fed president on Trump tariffs: 'Very prepared' to assess impact

Published On Dec 4, 2024, 6:00 AM

Mary Daly, the San Francisco Fed president, discussed the economic implications of new tariffs proposed by President-elect Trump during an interview. She explained that the effects of tariffs depend on various factors, including what goods are being tariffed and how the market adjusts. While she didn't provide a specific forecast about the tariffs' impact on the economy, she emphasized the Federal Reserve's readiness to assess the situation once more details are known. Daly mentioned that historically, trade issues and tariffs have not significantly derailed economic growth. The Fed remains optimistic about the current macroeconomic conditions, which are viewed as stable.

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Given that the Fed president believes tariffs historically do not derail economic growth and is confident in the current economy's stability, it suggests potential resilience in U.S. markets. However, the uncertainty surrounding the specific goods targeted by tariffs creates some risk. Investors may want to focus on sectors less exposed to trade disruptions.

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