U.S. Treasury Secretary Janet Yellen has declared that the recent tariffs will not lead to a recession, offering reassurance amid ongoing economic concerns surrounding trade policies. Her statements come as markets grapple with potential disruptions from tariffs, particularly for low-income consumers. 1
Yellen emphasized the long-standing impact of tariffs on global trade and underscored the importance of maintaining stable trade relationships to minimize those impacts. She acknowledged that tariffs impose additional costs on goods and services, disproportionately affecting lower-income populations.
Yellen’s reassurances have contributed to market stability, although some officials are expressing concerns about potential negative economic effects from increased trade friction.
Market reactions suggest a cautiously optimistic outlook, with some observing that Yellen’s stance attempts to counter the negative impact of previous tariff implementations.
While Yellen’s comments have brought a measure of stability to markets, the overall crypto market remains volatile. Recent developments like increased regulatory discussions and fluctuations in the SOL cryptocurrency market highlight the uncertainty surrounding global economic dynamics.