No Fed Cuts or Five Fed Cuts? Wall Street Is Stumped by Tariffs
It was shortly after 2 a.m. in Zurich when Mark Haefele, the chief investment officer at UBS Global Wealth Management, gave his verdict on President Donald Trump’s new barrage of tariffs. The Federal Reserve, Haefele wrote to his clients, will now have to cut interest rates far more aggressively this year — as many as four times.
