Trump To The Rest Of The World: Drop Dead

Why Tariffs Are The Worst Kind Of Taxes

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Table of Contents

• Why Tariffs Are The Worst Kind Of Taxes

• Three Things You Need To Know Now:

• And one more thing…

• Coming up…

• Trump To The Rest Of The World: Drop Dead

• Why Tariffs Are The Worst Kind Of Taxes

• Mailbag

Three Things You Need To Know Now:

1. Markets cheer lower inflation. This morning, the Bureau of Labor Statistics reported that consumer inflation (CPI) – excluding food and energy prices – slowed to 3.2% year over year in December, versus Wall Street expectations of 3.3%. Equity markets moved higher on hopes that lower inflation could prompt the Federal Reserve to cut rates this year more than currently forecast. However, inflation including food and energy prices – among the biggest expenses for many consumers – hit a higher-than-expected 2.8% year over year in December versus expectations of 2.7%, and continues to follow a remarkably similar path as the 1970s.