- A tariff-induced recession may begin in Los Angeles before metastasizing: The administration’s trade policies will result in rising prices and unemployment among supply-chain related workers, which will eventually push the economy into recession territory, according to RSM chief economist Joseph Brusuelas. Still, while the tariffs appear to threaten both parts of the central bank’s dual mandate, the Federal Reserve is expected to leave interest rates untouched Wednesday.
A tariff-induced recession may begin on the coast. “The recession will start on the docks of Los Angeles,” RSM chief economist Joseph Brusuelas wrote in a note published Monday.
