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‘Even the rich are worried’: Columnist warns economy headed to ‘frightful situation’ – msn (ungated)

Something worse could be coming for the economy than a recession – Heather Long/WaPost

“Trump’s tariffs are making stagflation a real risk for the United States for the first time since the 1970s.”

“…The U.S. economy is propelled largely by the spending and splurges of the rich and upper middle class, and now even those consumers are showing signs of cracking. Many middle-class and lower-income families were already exhibiting strain with record high credit card debt and the growing use of buy now, pay later shopping.

“It’s not just in consumers’ minds. The Federal Reserve’s latest economic forecasts show slower growth, higher unemployment and higher prices. The Fed didn’t call it stagflation, but the early signs are there. Bank of America is more explicit. Its economist now say “modest stagflation” is the likely path for the U.S. economy in 2025…”

How Would The Federal Reserve Fight ‘Stagflation?’ – Investopedia

See article and comments below on impact of Trump’s tariffs:

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