WEB Notes: If we end up in the land of doom due to his policy on trade, it will be blamed on conservative ideals.
Sparked by the Trump administration’s recent tariffs, nearly three-quarters of respondents to the CNBC Fed Survey say they are now worried about a trade war.
Protectionism tops the list of worries on Wall Street, the survey shows, far outpacing concerns over inflation, terrorism and even the Fed itself.
“The market has shifted from a fear of a monetary policy misstep, tightening too aggressively, to a trade policy mistake, escalating into a trade war with China,” Art Hogan, chief market strategist at B. Riley FBR, wrote in his response to the survey. “The balance of risk for equities has moved from the Fed to the White House.”