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However, the broader economic picture is more complicated.
Here are three reasons you should and three reasons you shouldnt panic about the economy.
Dont be a PANICAN (a new party based on Weak and Stupid People).
Be Strong, Courageous, and Patient, and GREATNEWSS will be the result!
3 Reasons To Panic
1.
When a country imposes tariffs on imported goods, most of them are passed on to the final consumer.
This means the economy is primed for a payback in the coming months, Winegarden said.
Purchases that would have occurred later in the year have occurred in March.
Therefore, future retail sales are likely to be weaker.
The number of single-family homes that began construction declined in March by 14.2%, Winegarden said.
3 Reasons Not To Panic
1.
Thats not the kind of environment you usually see heading into a recession.
A lot of people are still talking like inflations running wild and its not, Camberato said.
Were close to 2%, which is where the Fed wants it.
Interest rates feel painful, especially for borrowers.
But theyve also brought inflation down, and now theyre benefiting savers and investors.
Camberato continued, Tariffs are the wildcard.
Yes, they matter, but we havent seen the full impact yet.
So, lets not jump to worst-case scenarios.
Short-Term Pain for Long-Term Gain
Some financial experts said todays economic challenges are part of a necessary reset.
Musson explained, Panic is not the answer to concern.
Saving, not overspending, and caution are good responses.
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