Jonathan Levin

Miami

Writing about markets for @opinion. Former Bloomberg Miami bureau chief. Stints in Mexico City, Sao Paulo, Rio de Janeiro, La Paz. From the Philly suburbs.

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Articles

Inflation News Would Be Great If We Didn't Know What's Coming

2 weeks ago | bloomberg.com | Jonathan Levin

Where will prices go? (Bloomberg Opinion) -- Inflation cooled in the month of March, and President Donald Trump is celebrating. “INFLATION IS DOWN!!!” he declared on Truth Social. “Promises Made. Promises Kept!” wrote White House Press Secretary Karoline Leavitt on X. It is ridiculous but predictable that the administration is portraying March data in this manner.
Bessent Forgets That Inflation Is a Mind Game: Jonathan Levin

2 weeks ago | news.bloomberglaw.com | Jonathan Levin

Treasury Secretary Scott Bessent says tariffs don’t cause inflation. “Tariffs are a one-time price adjustment,” he said Sunday on Meet the Press, four days after Donald Trump announced he was pushing import duties to the highest levels in a century. Bessent added that there’s a big difference between that and “endemic inflation within the system.” He technically has a point, but it’s pure semantics.
Inflation Is a Mind Game, Too

2 weeks ago | bloomberg.com | Jonathan Levin

Price check. (Bloomberg Opinion) -- Treasury Secretary Scott Bessent says tariffs don’t cause inflation. “Tariffs are a one-time price adjustment,” he said Sunday on , four days after Donald Trump announced he was pushing import duties to the highest levels in a century. Bessent added that there’s a big difference between and “endemic inflation within the system.” He technically has a point, but it’s pure semantics. In the eyes of economists, inflation is a increase in prices of goods and services.
Bessent Forgets That Inflation Is a Mind Game: Jonathan Levin

2 weeks ago | news.bloombergtax.com | Jonathan Levin

Treasury Secretary Scott Bessent says tariffs don’t cause inflation. “Tariffs are a one-time price adjustment,” he said Sunday on Meet the Press, four days after Donald Trump announced he was pushing import duties to the highest levels in a century. Bessent added that there’s a big difference between that and “endemic inflation within the system.” He technically has a point, but it’s pure semantics.
Shaking Faith In U.S. Safe Havens Is A Dangerous Gamble

2 weeks ago | fa-mag.com | Jonathan Levin

It is a strange time for America’s “exorbitant privilege,” the idea that the dollar and Treasury securities occupy a unique position of trust among investors. With the world’s deepest and most liquid financial markets, the US has long been a haven in times of uncertainty. Our currency and bonds are almost always quick to appreciate when wars break out; financial crises hit; and, in 2020, when the Covid-19 pandemic spread across the globe.
Shaking Faith in Dollar, Treasuries Is a Dangerous Gamble

2 weeks ago | bloomberg.com | Jonathan Levin

The performance of Treasuries and the dollar is raising questions about whether Trump’s tariff policies will erode America’s exorbitant privilege. It is a strange time for America’s “exorbitant privilege,” the idea that the dollar and Treasury securities occupy a unique position of trust among investors. With the world’s deepest and most liquid financial markets, the US has long been a haven in times of uncertainty.
America’s Retirees Will Share Wall Street’s Pain

2 weeks ago | advisorperspectives.com | Jonathan Levin

President Donald Trump has said his reciprocal tariff policy was meant to stand up for the American worker, whom he portrayed as the victim of a decades-long shift toward unfettered globalization. His Rose Garden announcement on Wednesday pushed import duties to an average rate of around 22%, the highest in over a century. But even if these policies improve the lots of workers (and I really doubt it), the efforts are already coming at the expense of American retirees.
How Will Trump Tariffs Affect Retirement and 401Ks?

2 weeks ago | bloomberg.com | Jonathan Levin

Trump’s tariff experiment to restore manufacturing jobs threatens an economic slowdown. President Donald Trump has said his reciprocal tariff policy was meant to stand up for the American worker, whom he portrayed as the victim of a decades-long shift toward unfettered globalization. His Rose Garden announcement on Wednesday pushed import duties to an average rate of around 22%, the highest in over a century.
The S&P 500’s Safety Nets Are Gone

3 weeks ago | advisorperspectives.com | Jonathan Levin

President Donald Trump’s new reciprocal tariff policy is straightforwardly bad for the US economy and markets. The only conceivable reason that the S&P 500 Index was down just 4% on Thursday is that investors still don’t believe it will stick. Unfortunately, there’s no quick way out of this quagmire. No easy off-ramps via negotiation. No stock market “put” from the Federal Reserve. And no federal tax cuts or other stimulus that can sufficiently offset the hit. Let’s take those issues one at a time.
The S&P 500's Safety Nets Are Gone

3 weeks ago | fa-mag.com | Jonathan Levin

President Donald Trump’s new reciprocal tariff policy is straightforwardly bad for the US economy and markets. The only conceivable reason that the S&P 500 Index was down just 4% on Thursday is that investors still don’t believe it will stick. Unfortunately, there’s no quick way out of this quagmire. No easy off-ramps via negotiation. No stock market “put” from the Federal Reserve. And no federal tax cuts or other stimulus that can sufficiently offset the hit.