Trump Tariffs Now Seen As Harmful To Growth As Recession Fears Rise, Fed Survey Shows

CNBC’s March Fed Survey shows rising recession concerns, with respondents increasing the probability to the highest in six months. Growth forecasts for 2025 were cut, while inflation expectations rose. Concerns over Trump administration policies, particularly tariffs, have overtaken inflation as the top economic threat. The S&P 500 outlook declined for the first time since September. Over 70% view tariffs as harmful to inflation, jobs, and growth, while some warn of risks from policy volatility and fiscal uncertainty.