Subject: Re: Trump's emergencies & Macro economy
The direct impacts on the Macro economy have been:
1. Tariffs which will increase inflation.
2. Removal of immigrant labor which will cause inflation in food prices and services that are largely performed by immigrants, such as construction and elder care.
3. Meddling in the energy markets.

Those policies 1 and 2 lead to temporary inflation and unemployment. The mounting unemployment will lead to deflation.

Unemployment is the first symptom as it begins to rise, the FED is now worried about the possibility of deflation. The only argument is to lower rates. Lower rates will not drive investment. Things are far too risky.