US market seems more affected by tariff scenario; Fed likely to maintain status quo: Ed Yardeni

Ed Yardeni of Yardeni Research, says the US stock market has weakened since the middle of February as the Magnificent Seven have declined by about 15% since the beginning of the year. But other stock markets have actually done well. Germany, China. India seems to be stabilising. Money already has been going global. It has left the United States and that may continue to be the case. It is as though the stock markets are saying that the tariff situation is going to be worse for the US than for the rest of the world. But the markets are also saying that the US has been expensive
What is your expectation from the Fed this time, a status quo?
Ed Yardeni: Status quo. Nothing different from everybody else. The Fed has communicated that they are in no hurry to ease. I view that as a fundamentally dovish stance because the alternative would have been to say there is no hurry to do anything. In which case, the message would be rates could be here for a long time, not going up, not going down. But they have been saying over and over again that they are in no hurry to ease, so they are clearly thinking about lowering interest rates and depending on how this tariff turmoil turns out there may be a weak enough economy out there that they will ease. The problem is they may also get some inflation out of tariffs. So, they could really be boxed in and really be in no hurry to do anything for a while.

Considering that the tariff impact will now be evident in coming quarters, do you have any view on inflation which in a sense is the