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Consumer spending was weaker than expected again in February while a key inflation metric picked up, in a double whammy for the US economy before the brunt of tariffs.
Markets and world leaders are all bracing for next week, when President Donald Trump has planned a rollout of tariffs dubbed “Liberation Day” on April 2. He’s already imposed some levies on Canada, whose economic growth came to a halt in February after a solid start to the year.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy, markets and geopolitics:
Inflation-adjusted consumer spending edged up 0,1 percent, on the low end of economists’ estimates, after a slump January that analysts mostly blamed on bad weather.
The so-called core personal consumption expenditures price index, which excludes food and energy items, was up 2,8 percent from last year, remaining stubbornly above the Federal Reserve’s 2 percent target.
Trump appeared to invent a new weapon of economic statecraft yesterday by threatening what he dubbed “secondary tariffs” on countries that buy oil from Venezuela to choke off its oil trade with other nations.
The novel approach adds to a growing list of weapons that Trump has been eager to deploy as part of a push to use America’s economic clout as leverage in achieving its foreign and domestic policy goals. — Bloomberg.
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