Ken Griffin Claims U.S. Is 20% Poorer in Four Weeks Due to Tariffs

Republican megadonor Ken Griffin, CEO of Citadel, said the United States has become 20% poorer in the past month due to President Trump's recent tariffs and economic policies. Griffin attributed the decline to eroding confidence in U.S. Treasury bonds, a weakened dollar—particularly against the euro—and instability caused by attacks on Federal Reserve Chair Jerome Powell. He warned that these policies have damaged the global reputation of the U.S. as a financial safe haven, stating that repairing this 'brand' could take a lifetime. Griffin, while supportive of the administration's goals, criticized the methods used, echoing economists and world leaders who argue that the tariffs will benefit no one. He also challenged Trump’s assertion that tariffs would spur foreign manufacturers to invest in U.S. factories, noting skepticism from business leaders like Elon Musk and Tim Cook. The combination of market turmoil, downgraded growth forecasts, and strained international relations has led to increased fears of recession and higher borrowing costs for the U.S.