Jerome Powell won't rush to rescue investors from Trump's massive tariffs, warning it's "too soon" to cut rates despite the market freefall approaching bear territory. Unlike past crashes, the Fed is holding firm as tariffs threaten both growth and inflation—a dangerous "stagflation" cocktail. Goldman Sachs now sees 35% recession risk while JPMorgan predicts 60% chance of global downturn. With stocks down 17% from February peaks and China announcing retaliatory tariffs, investors face a painful waiting game that veteran analyst Edward Yardeni warns could get much worse.
Source : The New York Times
Fed's Powell Refuses to Save Crashing Markets as Trump's Tariff Bomb Triggers Wall Street Panic!