Overview

• Janet Yellen sharply criticized President Trump's tariff policies, calling them the 'worst self-inflicted wound' on a previously strong U.S. economy.
• Yellen highlighted that Trump inherited an economy with robust growth, low unemployment, and strong job creation, which she described as 'well-functioning.'
• Trump's tariffs on China, which exceed 100%, are expected to have significant negative impacts on both the U.S. and global economies.
• A 90-day tariff pause for most trade partners temporarily boosted markets, but volatility has since returned as uncertainty persists.
• Trump has threatened to end the 90-day tariff pause if satisfactory trade deals are not reached, adding to market instability.