US Outlook_ The return of the tariff_ Warning shots fired

FICC Research Economics 29 November 2024 US Outlook The return of the tariff: Warning shots fired The president-elect gave an early demonstration of his intent to use tariffs as a tool for foreign policy objectives, signaling new levies on China, Canada, and Mexico linked to migration and drug enforcement. Amid policy and measurement uncertainty, the FOMC signaled its intent to ease gradually. • Incoming data remain consistent with a deceleration of GDP in Q4 to a trend-like 2.0% q/q saar, following the 2.8 ...