...this is where there is such a big divergence between consumers and market participants.
...consumers are more worried about higher inflation from tariffs than during the 2022 supply chain shock.
...so what do you think consumers do/behave? They have been front-loading their purchases of big ticket items the past couple of months. Which means retail sales are likely to plunge in the months ahead post-tariffs.
..and markets stood myopic believing that the economy held up well.
