Apr. 23, 2025 1:15p
(WGTD)---A Carthage College economics professor is among those economists who believe a recession is fairly likely as the result of President Trump’s tariffs and frequent policy changes.
Ron Cronovich spoke on a recent edition of WGTD’s Morning Show. "People are making long term decisions and they need to have some information about what the future is going to look like so they can make good decisions," Cronovich said. "When things are crazy, volatile--when stock prices are swinging wildly from week to week or day to day and the prospects of businesses are changing sharply from week to week--people decide just not to make the decision."
"So the factory doesn't get built. The house doesn't get bought. And that means there is less economic activity happening in the United States and that creates an environment in which a recession becomes likely," he said.
The advertising industry is already experiencing a downturn as a result of advertisers cutting back, Cronovich said.
Where to go from here? Cronovich suggests a face-saving measure in which Trump would declare victory and pull back on the tariffs immediately.
-0-