Jeff Bezos advocates for growth, Trump’s tariff threats and the Fed’s latest moves: This week’s economy

The past week has been a whirlwind of economic insights and policy debate. from Jeff Bezos challenging Muskcost reduction strategies Donald TrumpThe financial world is in an uproar as the tariff plan triggers a potential trade war. at the same time, Fed The U.S. job market showed unexpected strength amid hints of possible interest rate cuts.

Let’s take a deeper look at the key stories that shaped the weekend.

Bezos advocates growth, not cutting

At the New York Times DealBook Summit, amazon.com Founder Bezos emphasized the importance of economic growth in solving the nation’s debt problem. He suggested that the U.S. GDP growth rate should be targeted at 3% to 5% per year, rather than focusing solely on debt reduction. Bezos said: “Our country needs a direction for growth. This is the most important thing… a growth mindset.

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Trump’s tariff threats and BRICS

President-elect Donald Trump has proposed imposing 100% tariffs on BRICS countries, raising concerns about a potential trade war. Milken Institute Chief Economist William Lee noted that Trump’s strategy reflects his preference for direct negotiations over multilateral agreements. Lee stressed that these tariff threats were aimed at taking advantage of negotiations with major trading partners.

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See also: November jobs report preview: Will Fed rate cut seal the deal?

Goldman Sachs warns of economic risks

Goldman Sachs has warned of Trump’s aggressive tariff plan, which includes a 25% tariff on imports from Canada and Mexico. The company expects significant economic impacts, including a possible 4% GDP contraction in Canada and Mexico and a 0.4% contraction in the U.S. economy. Economists at Goldman Sachs have warned that such tariffs could lead to higher consumer prices and slower economic growth.

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Fed considers cutting interest rates

Federal Reserve Board of Governors member Christopher Waller said a rate cut is likely at the upcoming December meeting. Waller said in a speech at the American Institute for Economic Research Monetary Conference that recent inflation data support the downward trend of the Federal Reserve’s 2% target. He mentioned that despite previous interest rate cuts, monetary policy remains restrictive.

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U.S. job market surges in November

The latest employment report showed strong growth in hiring, with nonfarm payrolls rising by 227,000 in November. That marked a significant pickup from weather-affected October data. Strong labor market data, coupled with accelerating wage growth, may influence the Federal Reserve’s decision to cut interest rates.

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This story was generated using Benzinga Neuro and published by Anania Gairola