Federal Reserve Bank of Boston | bostonfed.org |
Bank Administration, 7 January 2020
Key Risks: Trade Uncertainty, Manufacturing and
Foreign Growth
▶ Trade Policy
▶ A variety of impacts
▶ Direct effects of higher prices of
taxed goods
▶ Effects on the supply chain
▶ Uncertainty: Confidence effects
▷ Has receded of late
▶ Slowing global manufacturing
sector
▶ In part caused by uncertainty
▶ Implies slowdown in US
investment (see previous chart)
Sources: Bloom and Baker (trade uncertainty), Institute for Supply Management (ISM), Eurostat (Euro area IP), Haver analytics.
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