We have discussed the potential negative impacts from tariffs in our January and February comments, however, with the implementation of several policies by the US against other nations beginning today, the stagflation danger has become a reality.
As a result, many are attempting to quantify the impact. While obviously difficult to forecast with any certainty, the charts below from EY-Parthenon, Apollo Global Management and Deutsche Bank clearly illustrate the likelihood that tariffs will increase inflation and slow economic growth.
March 4, 2025
We have discussed the potential negative impacts from tariffs in our January and February comments, however, with the implementation of several policies by the US against other nations beginning today, the stagflation danger has become a reality.
As a result, many are attempting to quantify the impact. While obviously difficult to forecast with any certainty, the charts below from EY-Parthenon, Apollo Global Management and Deutsche Bank clearly illustrate the likelihood that tariffs will increase inflation and slow economic growth.