
Wait Tariffs Are the New Black?
OMG you guys I'm like *so* not an economist but even I know that money is kind of a big deal. And apparently these tariffs that President Trump is slapping on everything could seriously mess with our glam lives! Federal Reserve Governor Michael Barr (who sounds like a character from 'Succession,' btw) is saying these tariffs are 'without modern precedent.' Like okay what does that even MEAN? Is this worse than when someone shows up to your party in the same dress? #NightmareFuel
Supply Chain Drama: Is This Worse Than the Met Gala?
So Barr is saying these tariffs could totally disrupt global supply chains. Translation: Your favorite contour kit might become harder to find. And we CANNOT have that! He even warned that small businesses might go bankrupt. That's like the opposite of 'You're doing amazing sweetie!' Seriously though it's sad. Small business = no supply and demand something is not working.
Unemployment? Don't Be Tardy for Your Paycheck!
Ugh and if all that wasn't enough Barr is also worried about *unemployment*. As if finding a good nanny isn't hard enough already! He's saying the economy could slow down which means fewer jobs. I mean I'm all about the hustle but nobody wants to be hustling for a job that doesn't exist right? That's NOT my brand.
The Fed's in a 'Difficult Position': Sounds Like My Divorce!
Apparently the Federal Reserve is in a 'difficult position' because of all this. Rising inflation *and* rising unemployment? Sounds like my dating life! Barr basically echoed Fed Chair Jerome Powell. They are playing this situation by ear so they are going to wait and see before deciding what to do. Honestly I can relate. Some moments you just have to wait and see because nothing else will cut it.
Barr's 'Resignation': Drama Darling Drama!
Okay so here's where it gets juicy. Barr actually *resigned* from his other Fed job to avoid fighting with Trump! Like can you even imagine? He also pushed for stricter rules on banks. I bet his boss was not happy about that. And Trump wants to replace him with someone who agrees with him. It's giving major power struggle vibes and I'm here for it. #KeepUpWithTheFederalReserve
Trump's Fed Feud: Is He Gonna Fire Everyone?
Trump has been complaining about the Fed not cutting rates and has even hinted he wants to replace Jerome Powell. It's like chill dude! Maybe try meditating or something? But then he said he has no intention of firing him. So confusing. Anyway let's hope someone figures this all out before my Birkin bag costs a million dollars. Kidding! ...Mostly.
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