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Rising Tariffs Risk Recession: Economists Warn of Chaos

4/16/2025

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Summary

Story summary

Tony Tomelden shut down Brookland's Finest in Washington, citing increasing operational costs.
Fed Governor Christopher Waller cautioned that new US tariffs might trigger a recession, predicting a 1.1% GDP decline and 5% unemployment.
Economists warn that unpredictable tariff policies could destabilize the economy, with Larry Summers estimating a 60% recession likelihood this year.
Ray Dalio noted that chaotic tariffs disrupt global supply chains and significantly increase costs.

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Story summary

Tony Tomelden shut down Brookland's Finest in Washington, citing increasing operational costs.
Fed Governor Christopher Waller cautioned that new US tariffs might trigger a recession, predicting a 1.1% GDP decline and 5% unemployment.
Economists warn that unpredictable tariff policies could destabilize the economy, with Larry Summers estimating a 60% recession likelihood this year.
Ray Dalio noted that chaotic tariffs disrupt global supply chains and significantly increase costs.