UK Economic Forecasts Dim, Global Markets Brace for Key Data

Explore the latest downgrade in the UK's growth outlook and its implications for Chancellor Rachel Reeves' economic plans. As global markets prepare for a crucial week of economic data, including US jobs figures and the Bank of England's rate decision, we delve into the potential impacts on international trade and monetary policy. Plus, a deep dive into the fundamentals of tariffs and protectionism, and a critical look at the Federal Reserve's role in today's complex economic landscape. Join us for insights into the forces shaping the global economy and what they mean for you.Sources:https://www.islandfm.com/news/business-and-finance/uk-growth-outlook-downgraded-by-leading-economic-forecasters-in-latest-blow-to-chancellor-rachel-reeves/https://www.kaohooninternational.com/economics/551830https://www.econlib.org/the-elementary-economics-of-tariffs-and-protectionism/https://www.twincities.com/2025/02/02/real-world-economics-the-fed-cannot-save-our-wayward-economy/Outline:(00:00:00) Introduction(00:00:43) UK growth outlook downgraded by leading economic forecasters in latest blow to Chancellor Rachel Reeves(00:03:31) Economic Calendar for 3 - 7 Feb 2025 with Inflation, US Jobs Data, and BoE's Rate Decision(00:06:44) The Elementary Economics of Tariffs and Protectionism(00:10:05) Real World Economics: The Fed cannot save our wayward economy