Call It Tariffs, but It’s Really a Tax

Call It Tariffs, but It’s Really a Tax

By Blu Putnam, Chief Economist, CME Group

Highlights

  • Tariffs are a tax on trade that can disrupt global growth
  • US economic expansion likely to decelerate in H2 2019
  • Fed rate cuts unlikely to boost growth as rates are not the problem
  • Negative interest rates could restrict bank lending and inhibit growth
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