The Federal Reserve's Goolsbee: Tariffs may trigger a dual contraction in consumption and investment.

BlockBeats News: On April 2, the Federal Reserve’s Goolsbee said that if consumers stop spending due to uncertainty, or businesses pause investing, the economy will fall into chaos. In theory, the impact of tariffs on prices should be temporary, but the actual impact may be more long-lasting, given factors such as retaliatory tariffs and tariffs on intermediate goods. Goolsbee stressed that although the survey showed that business and consumer confidence was “almost at rock bottom”, the physical data still pointed to solid economic growth in the United States. He maintained his previous judgment that he expects interest rate cuts in the next 12 to 18 months. (Golden Ten)