“Former Treasury Secretary Lawrence Summers stated the Trump administration’s looming tariff hikes are set to impose an oil crisis-like shock to the financial system that shrinks its productive capability — boosting each costs and unemployment,” Bloomberg stories.
Mentioned Summers: “That is the type of factor you focus on in the way in which we’d normally focus on an oil-price spike or earthquake or a drought, as a provide shock. The query is usually how a lot harm goes to be executed.”
