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UBS CEO Warns Tariffs Could Stall Rate Cuts, Inflation

1/22/2025

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Summary

Story summary

UBS CEO Sergio Ermotti cautioned that potential tariffs from a second Trump administration could stifle anticipated interest rate drops and sustain high inflation levels. With U.S. inflation hitting 2.9% in December, he emphasized that tariffs may not provide the relief needed, as the Federal Reserve now forecasts just two rate cuts by 2025.

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Story summary

UBS CEO Sergio Ermotti cautioned that potential tariffs from a second Trump administration could stifle anticipated interest rate drops and sustain high inflation levels. With U.S. inflation hitting 2.9% in December, he emphasized that tariffs may not provide the relief needed, as the Federal Reserve now forecasts just two rate cuts by 2025.