Posted To: Pipeline Press

Nobody, that I recall, predicted that 2019 would be a banner year for mortgage originators. And how about that stock market! My 401k’s balance certainly improved in 2019, yet a new report from the National Bureau of Economic Research says the cost of the trade war has been paid almost entirely by American businesses and consumers, not China . Experts and economists from the Federal Reserve Bank of New York, Columbia University and Princeton said analysis of tax levies found “approximately 100 percent” of import taxes fell on Americans , despite the President’s assertion the country was “taxing the hell out of China.” Some of the implemented tariffs on Chinese goods are as high as 25 percent. We can certainly expect the rhetoric to increase. And we still have…(read more)

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Source: Mortgage News Daily