PIMCO： Tariffs increase the probability of a US recession to 35%

BlockBeats News: On March 12th, Alec Kersman, Managing Director and Asia Pacific Head of PIMCO, stated that the likelihood of the United States falling into an economic recession this year has increased due to the implementation of tariffs, with an estimated probability of 35%. This probability is higher than Pimco's assessment of 15% in December last year. Nevertheless, Pimco's basic estimate for the US economy is a growth rate of 1% to 1.5%, although it has "significantly declined" from previous expectations. Kamal Bhatia, President and CEO of Principal Asset Management, stated that such trade policies will promote domestic consumption and contribute to higher than expected economic growth in the United States. Consumer spending on goods and services accounts for approximately two-thirds of the US GDP. Bhatia stated that the increase in domestic spending caused by tariffs is highly likely to lead to better than expected GDP performance in the United States. (Golden Ten)