Former Federal Reserve Vice Chairman Warns: Trump's "Tariff Club" May Reverse Decades of Anti-Inflation Progress

Former Federal Reserve Vice Chairman Donald Kohn warned that the global trade war under the Trump administration could reverse decades of anti-inflation progress, leading to an increased risk of stagflation. Tariff policies have created market uncertainty, and investors are concerned that rising prices will limit the Federal Reserve's room to cut interest rates. UBS Asia Pacific President Ivo Kallio pointed out that stagflation is the real threat to the market, and global central banks are highly attentive to this issue. The latest forecasts from the Federal Reserve indicate that the U.S. economy faces stagflation risks, with slowing economic growth coexisting with rising inflation rates