Uncertainty generated by tariff policy underlines US president seemingly unable to choose a path and stick to it
Ten days reporting from the US – in Pittsburgh, Washington DC, and just across the Potomac River in Arlington, Virginia – gave me a fascinating snapshot of what feels like the slow-motion unravelling of the world’s largest economy.
So many conversations featured uncertainty and wariness; and weariness, too, as businesses and consumers weigh up every decision, against the backdrop of the chaos emanating from the White House.
Andrew Bailey said UK not close to recession but he would be ‘encouraged’ if trade deal with US was agreed
The Bank of England’s governor, Andrew Bailey, has said that the UK economy faces a “growth shock” as a result of Donald Trump’s trade policies.
Speaking on the sidelines of the International Monetary Fund (IMF) meetings in Washington, Bailey said that while he did not think the UK is “close to recession” at the moment, “we are certainly quite focused on the growth shock”.
Shrinking profit margins, a dismal return on invested capital, and slowing revenues hint at more issues ahead. Did earnings manifest a bearish case?