Economics

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Risk of ‘Trumpcession’ rising, economists say, as global markets fall (www.theguardian.com)

submitted 1 week ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

Economists warn that the risk of a U.S. recession is rising due to Trump’s unpredictable tariff policies.

Wall Street stocks fell sharply Monday, with the S&P 500 down 2.4%. Trump refused to rule out a recession, instead claiming it’s a “period of transition.”

Goldman Sachs raised recession odds from 15% to 20%, and Morgan Stanley cut its 2025 GDP forecast. Consumer confidence hit a four-year low, and the U.S. trade deficit widened to a record $131 billion.

Analysts say Trump’s tariff policy is fueling uncertainty and economic instability.

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[–] Kit@lemmy.blahaj.zone 14 points 1 week ago (15 children)

My retirement accounts are down 17% since Trump took office. That's worse than when Covid hit in 2020. We're about to enter a world of pain aren't we.

[–] cabron_offsets@lemmy.world 5 points 1 week ago (14 children)

Yes. I have a lot of cash on hand.

[–] Kit@lemmy.blahaj.zone 1 points 1 week ago (3 children)

At this point I wish I had cash in hand instead of invested.

[–] artificialfish@programming.dev 1 points 1 week ago (1 children)

Stocks are ownership in assets. Much better than currency. Just make sure it’s a stable good.

[–] Kit@lemmy.blahaj.zone 1 points 1 week ago

That last part is the problem. My investments have lost tremendous value in the past 3 months, whereas if I had cashed our before Trump was sworn in I'd be in a much better spot.

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