Fed's Bullard says the end of a free-trade era imperils the U.S.'s economy
St. Louis Fed President James Bullard on Monday said the U.S. economy is at risk because the 75-year old era of free trade, which has helped domestic companies prosper globally, is ending.
Bullard was less sanguine, saying the consequences of the shift from a free-trade regime “are unclear at a minimum.” With the Chinese now holding an incentive to wait until after the 2020 presidential election to come back to the negotiating table, punitive trade tariffs will likely go into effect and last, he added.
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