“President Trump believes it’s worth risking pain to achieve his medium-term goal of rewiring the U.S. economy. He is attempting a form of economic shock therapy, while accepting there could be collateral damage,” Axios reports.
“That willingness to shrug off risks of inflation or recession is now rattling financial markets and confidence — and has itself emerged as the biggest near-term economic risk.
”“The administration has embraced that the economic disruption it envisions could be painful.”
“That adds to the risk that if the economy starts to falter — and it hasn’t so far, at least according to the high-level data — no cavalry will be coming from Washington to contain the damage.”