Aaron Back

New York

Editor, Heard on the Street at The Wall Street Journal

Deputy Editor of The Wall Street Journal's Heard on the Street column. Previously with @wsj in Beijing and Hong Kong.

Articles

Delaying Some Tariffs Risks Making Matters Worse: Heard on the Street

1 month ago | wsj.com | Aaron Back

The so-called narrowing of the Trump Administration’s tariffs plans for April 2 raises more questions than answers. It could even be a net negative for the economy. Markets are rallying Monday after Bloomberg and The Wall Street Journal reported over the weekend that the administration’s thinking on tariffs had shifted somewhat.
Don’t Brush Off Weak Consumer Sentiment: Heard on the Street

1 month ago | wsj.com | Aaron Back

It is perhaps unsurprising for investors that consumer sentiment has weakened sharply in recent weeks. Nonetheless, the preliminary March readings of the University of Michigan’s consumer survey raise multiple concerns. The headline consumer-sentiment reading fell sharply to 57.9, from 64.7 in February. That isn’t a shock given all the tariff headlines and stock selloffs lately. Markets didn’t react much early Friday, with equities still rebounding from Thursday’s losses.
Don’t Count on a Fed Rescue: Heard on the Street

1 month ago | wsj.com | Aaron Back

Investors don’t seem to know what to think about the direction of the U.S. economy. The Federal Reserve might be similarly perplexed. Traders in futures markets are now pricing in around a 35% chance of a rate cut on May 7, according to the CME FedWatch tool. That seems too high given all the uncertainty they will have to grapple with. Consider that April 2 has suddenly become a particularly important day on the trade calendar.
Heard on the Street: Tariff Uncertainty Will Keep Rising, Paralyzing Businesses

1 month ago | wsj.com | Aaron Back

The Trump administration’s tariff campaign is generating huge uncertainty for businesses that was already becoming a drag on the economy. It will only further intensify in the weeks and months ahead. Until recently, stock-market investors seemed to be acting on the assumption that most of Trump’s threatened tariffs simply wouldn’t happen, perhaps believing they represented mere negotiation tactics. They have now been disabused of that notion.
Planes de Trump se interponen para repetir éxito económico

Jan 20, 2025 | reforma.com | Aaron Back

05 MIN 00 SEGAaron Back / The Wall Street JournalNueva York, Estados Unidos (20 enero 2025) .-07:06 hrsLos aranceles al acero y aluminio de Trump comenzaron en 2018. Crédito: AFPA veces el orden de los factores sí importa. Ése podría ser el caso de las políticas económicas del Presidente electo Donald Trump. En su primer mandato, amplios recortes de impuestos precedieron la imposición de aranceles selectivos.
Trump’s Own Plans Stand in the Way of Repeating His Economic Success

Jan 17, 2025 | msn.com | Aaron Back

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Trump’s Own Plans Stand in the Way of Repeating His Economic Success

Jan 17, 2025 | msn.com | Aaron Back

Continue reading More for You
Trump’s Own Plans Stand in the Way of Repeating His Economic Success

Jan 17, 2025 | wsj.com | Aaron Back

Sometimes the order in which you do things makes all the difference. That could prove to be the case with President-elect Donald Trump’s economic policies. In his first term, sweeping tax cuts preceded the imposition of selective tariffs. That meant the economy already had solid momentum when the negative impact from trade disruptions hit.
Donald Trump’s Tariff Plans Stand in the Way of Repeating His Economic Success

Jan 17, 2025 | wsj.com | Aaron Back

Sometimes the order in which you do things makes all the difference. That could prove to be the case with President-elect Donald Trump’s economic policies. In his first term, sweeping tax cuts preceded the imposition of selective tariffs. That meant the economy already had solid momentum when the negative impact from trade disruptions hit.
Modelo Brewer Constellation Brands Awaits Fateful Decision on Tariffs

Dec 30, 2024 | wsj.com | Aaron Back

Few major U.S. corporations would be as clearly affected by tariffs on Mexico as Constellation Brands STZ -0.70%decrease; red down pointing triangle, which sells the imported Modelo, Corona and Pacifico beer brands in the U.S.No wonder its shares are down about 8% this year compared with a nearly 25% rise for the broader market.