Bond giant says Trump tariffs mean recession chances ‘highest they’ve been in years’
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Bond giant says Trump tariffs mean recession chances ‘highest they’ve been in years’
President Donald Trump’s trade war could lead the country into recession, the chief investment officer of one of the biggest asset management firms has warned. The officer called the probabilities “the highest they’ve been in a few years.”Speaking at the Milken Institute Global Conference in Beverly Hills, California, Pimco executive Dan Ivascyn also told The Financial Times he felt investors were underestimating Trump’s resolve about bringing back his April 2 “Liberation Day” reciprocal tariff program.A week later, the president paused the tariffs for most countries for 90 days after they rocked the world’s stock markets and sparked days of alarm ..