It could be a pressure cooker of a summer for the US economy, and not because of the warmer weather. Tariffs from the Trump administration don’t appear to be going anywhere anytime soon, forcing businesses to raise prices on consumers and delay key projects. At the same time, the Federal Reserve is in no hurry to cut interest rates amid stagflation fears. Economic data has also begun to weaken, with the latest evidence being the employment readings from the last three months. Yahoo Finance executive editor Brian Sozzi talks on the Opening Bid podcast with the deputy head of BlackRock’s portfolio management group, Mike Pyle. Pyle has spent considerable time in top economic advisor roles in the White House administrations of both Biden and Obama. Before rejoining BlackRock in the fall of 2024, Pyle led President Biden’s international economic policy efforts. He was Biden’s ‘sherpa’, serving as the lead in key economic negotiations with the G7, G20, and APEC. Pyle reveals his latest outlooks on the economy and markets with Sozzi, as well as his biggest concerns as Trump tariffs begin to take root inside corporate America.
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