Impending recession self-inflicted suffering

The US economy could be approaching a dangerous precipice, and it's not due to war, pandemic, or a collapse in global demand. This threat is coming from within — a barrage of reckless tariffs.

On Monday, Federal Reserve Governor Christopher Waller issued a stark warning: The Donald Trump administration's sweeping trade policies are a shock to the US economy — one of the largest in decades.

In remarks to the Certified Financial Analysts Society of St. Louis, Waller made it clear that the risks posed by runaway inflation are now overshadowed by a deeper, more pressing concern: recession.