Trump’s increasingly aggressive tariffs are driving a wave of panic purchasing by both US consumers and businesses.
This type of purchasing is driven by a fear of prospective price increases while creating an economic “activity” that is “artificially high.” The result is that we risk falling into a sharp slowdown, as noted by Chicago’s Federal Reserve president, Austan Goolsbee. While Goolsbee’s claim of preemptive purchasing taking place is accurate, the impacts for…
