Former U.S. Treasury Secretary Yellen: Tariff policies will have an "extremely adverse" impact on the United States, significantly increasing the likelihood of economic recession

TechFlow news, according to a report by Cailian Press citing the UK's Financial Times on May 1, former U.S. Treasury Secretary Yellen stated that the U.S. government's tariff policy will have an "extremely adverse" impact on the United States, negatively affecting both American consumers and businesses. Due to the tariff policy, the possibility of a U.S. "economic recession has significantly increased."

One day earlier, former U.S. Treasury Secretary Summers also said that market expectations indicate a 70% probability of the U.S. economy falling into recession this year. If the U.S. government does not adjust its economic policies promptly, the economic situation in the United States will further deteriorate, as the country is currently on the wrong path.