Economic Rollercoaster: Trump's Tariffs and the Market's Wobbles

The economy has been a hot topic since Trump's victory in November. Promises were made to boost the market and lower prices. However, things have taken a different turn. The market has been shaky, with worries about jobs and prices on the rise. The S&P 500 index has dropped significantly, marking its fourth week of decline. This comes as Trump's tariffs on steel, aluminum, and other goods from Canada and Europe have kicked in, sparking fears of a trade war. The tariffs have led to increased costs for consumers and uncertainty about the future. This uncertainty is affecting how people spend their money and plan for the future. The University of Michigan's survey showed that people are feeling pessimistic about the economy. The outlook for business conditions, inflation, and unemployment has worsened. The New York Federal Reserve's survey also showed that people are worried about job security and their ability to pay off debts. The National Federation of Independent Businesses reported that small business owners are feeling uncertain about the future. The White House has not commented on these concerns, but some members of the administration have hinted at a potential economic downturn.The administration is preparing the public for a possible recession, with some officials saying it would be worth it to implement Trump's economic policies. Others are trying to spin the weakening economy as a positive development, pointing to lower gas and egg prices and falling mortgage rates. However, experts say these developments are happening against a backdrop of weakening demand and fears about economic growth. The tariffs are expected to increase inflation and reduce consumer purchasing power. JP Morgan's chief U. S. economist has lowered his estimate for U. S. growth and forecasted that unemployment could rise to 4. 4%.