Tariff Terror

Simon discusses the unprecedented escalation in U.S. trade tariff levels. He acknowledges answers are hard to come by and, instead, offers a series of questions to consider around recession odds, inflation levels, fiscal and monetary response, and corporate profit impacts that will surely be central to investment outcomes. He also stresses the importance of harnessing emotions, maintaining liquidity for spending needs and to not get too wrapped up in futile emotional exercises such as anchoring to all-time high price levels, trying to predict policy or the timing on trade execution.