Janet Yellen: Tariffs Could Lead to a ‘Significant Recession’

EXCERPT:

YELLEN: “I wouldn't want to go so far as to forecast a recession. But, look, estimates suggest that the impact of these whole tariffs, if they stay where they are on consumers, could be in the region of $4,000. And that is a big hit to household income that can lead to less consumer spending on a wide range of goods. And the uncertainty that businesses face is likely to have a marked negative impact on investment spending. And a collapse in spending or a decline in consumer and business spending can really be responsible for significant recession.”