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Tariffs 2025: Impact on Your Wallet & the Economy

Will tariffs suddenly change what you pay at checkout? It’s a question we keep hearing, and we’re here to break it down.

From the basics of how tariffs work to their ripple effects on the economy—and your wallet—CAP STRAT’s Mike Warford, CFA, and Mike Rarey, CFA, unravel the Trump tariff plan. This Deep Dive explores:

Impact on U.S. companies and consumer prices
Market impacts plus key opportunities in the Last Minute
The Fed’s reaction function and rate cuts in 2025

Mike Rarey

Mike Rarey, CFA

Principal, Chief Investment Officer

Mike oversees the firm's investment research and portfolio management and co-heads the CAP STRAT Investment Committee.

Michael Warford

Michael Warford, CFA

Principal, Director of Finance and Administration

Michael oversees the financial initiatives of the Firm and leads day-to-day administrative functions. Michael is also Co-Head of the CAP STRAT Investment Committee with Mike Rarey.