That would cause the #FederalReserve to pause its current trajectory of lowering interest rates.

And that would run directly counter to #Trump’s goal to maintain lower interest rates as part of a policy of accelerating growth.

“Although Trump has shown a consistent preference for easy monetary policy, we believe that the #Fed would engage in a less aggressive cutting cycle under a 2nd Trump admin due to the #inflationary nature of additional #tariffs,” Nomura Holdings financial told clients.