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Where is US economic policy taking us?
- The US economic policy has been causing significant volatility in the markets, with uncertainty measures spiking among companies and households.
- Issues revolving around trade tensions with countries like China and the European Union are further complicating the economic landscape.
- Professional economists hold divergent views on the trajectory of US economic policy and its impact on global economics.
- The return of bond vigilantes has led to increased yields on government bonds, potentially triggering economic disruptions.
- There is a clash between economic and national-security considerations in shaping US economic policies.
- The reactions of other countries to US policy-induced volatility may lead to shifts away from the US-centered trade and payments system.
- The evolving economic landscape is driving structural changes that could lead to a reconfiguration of global trade and payment systems.
- The future trajectory of the global economy remains uncertain, with possibilities ranging from recession to significant economic restructuring.
- Adapting to prolonged uncertainty and being prepared for diverse future scenarios are essential for navigating the current economic landscape.
- The global economy stands at a crossroads with potential paths towards recession, restructuring, or productivity gains and a fairer trading order.
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