When “Liberation Day” Replaces “Infrastructure Week” Replaces “Groundhog Day” ™…
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Trump on TruthSocial (Bloomberg):
“TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change”
Figure 1: EPU (blue, left scale), and centered 7 day moving average (red, right scale), SF Fed News Sentiment index (green). Red dashed line at “Liberation Day”. Source: policyuncertainty.com, SF Fed, and author’s calculations.
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