, Columnist
There’s No Recession Alarm in the Collective Wisdom of Markets
Stocks and bonds seem to be signaling that the economy is slowing modestly.
Which way next?
Photographer: Michael Nagle/Bloomberg
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President Donald Trump is attempting the most sweeping transformation of government and policy in decades. The White House is moving furiously to slash spending, expand tariffs, repeal regulations and rewrite tax rules. A lot of people are wondering what it all means for the economy, jobs, housing, inflation and the stock market.
The truth is no one knows. But the best guess lies in the collective wisdom of markets — the countless independent buy and sell decisions manifested in stock and bond prices.