'APOCALYPTIC PREDICTIONS': Major US bank makes suspicious claim about Trump's tariffs

Core Viewpoint - Goldman Sachs reports that consumers are bearing 55% of the cost of tariffs imposed by the Trump administration this year, indicating a potential inflationary impact [1] Group 1: Tariffs and Consumer Impact - Goldman Sachs estimates that consumers are shouldering 55% of the tariff costs, which suggests inflationary pressures [1] - Other banks have predicted that consumers would pay the full cost of tariffs, but these predictions have not materialized as expected, with many middlemen and foreign exporters absorbing some of the costs [2] - While there are some temporary price increases due to tariffs, the anticipated severe inflation has not occurred [3][4] Group 2: Inflation and Monetary Policy - The increases in the Consumer Price Index (CPI) are largely attributed to poor monetary policy decisions made at the end of the previous year, rather than solely to tariffs [4][5] - The long-term effects of monetary policy are contributing to current price increases, indicating that tariffs are not the primary driver of inflation [5] Group 3: Trade Relations and Economic Conditions - The ongoing trade war with China is expected to continue, as China has a history of not adhering to trade agreements [6][7] - The trade war impacts both the U.S. and Chinese markets, with China's economy currently facing significant challenges, including recessionary indicators [9][10] - New tariffs on lumber could add costs to the housing industry, but regulatory reforms may help mitigate some of these impacts by facilitating domestic lumber processing [11][12]