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Monetary Affairs
Mar 18, 2025

Fed To Continue Its Pause,  While the Economic Backdrop Deteriorates on Tariff Risks

Nouriel Roubini

Brunello Rosa

Nato Balavadze

Fed To Continue Its Pause,  While the Economic Backdrop Deteriorates on Tariff Risks

by Nouriel Roubini, Brunello Rosa and Nato Balavadze

18 March 2025

In this paper we discuss:

  • Our assessment of the US economy, which is rapidly deteriorating; 
  • What we expect the Fed to do in March and coming months;
  • The expected changes in the Fed’s forecasts; and
  • The expected market reaction.

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