Data Says a Fed Rate Cut Won’t Offset Higher Tariffs: JPM's Kelly

The video discusses recent consumer confidence data and the decline in long-term interest rates, noting that these changes have not significantly boosted housing activity or economic confidence. Despite the Federal Reserve's potential rate cuts, the real economy is unlikely to react positively. The video also highlights concerns that lower rates cannot offset the impact of higher tariffs.

What concerns are raised regarding the relationship between tariffs and interest rates?

What does the speaker suggest about the effectiveness of lower rates in stimulating economic activity?