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Podcast: Money Life with Chuck Jaffe
Episode: ICI's Antoniewicz: Consumers, facing tariffs, hold the keys to the economy
Description: Shelly Antoniewicz, chief economist at the Investment Company Institute, says that consumers currently expect that they will wind up paying about half of the costs added to goods by tariffs — meaning they will pay 10 percent more when an item is facing a 20 percent tariff — and she says that a cutback in consumer spending would dramatically change the economic picture, since it makes up about two-thirds of GDP. Along with declining consumer sentiment, Antoniewicz says that investors are reacting to current market performance and heading toward money-market and bond funds, waiting before they are willing to buy into the dips. Spea...