External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

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External broker reports(aggregated public sources)

US: Subdued Inflation to Oblige a Reluctant Fed to Cut This Month, but No More in '25

US: Tariff Deals with Japan, EU, Indonesia, Philippines Sharply Reduce Stagflation Risk

US: Rate Cut Imminent at Last, but Chances of More Are Slim as Oil's Benefits Fade

Macroeconomics

<ul><li>We evaluate whether the initial tariff-induced inflationary shock could once again transform into a persistent inflation wave</li><li>The trade war could cause supply chain disruptions again, although after the de-escalation this is less likely</li><li>Export restrictions remain a threat</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We evaluate whether the initial tariff-induced inflationary shock could once again transform into a persistent inflation waveThe trade war could cause supply chain disruptions again, although after the de-escalation this is less likelyExport restrictions remain a threatContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

US Watch - Why tariffs will not unleash the next inflation wave