(NewsNation) — Following a positive April jobs report, Diane Swonk, KPMG’s chief economist, believes the economy still faces turbulence ahead.
American employers added a better-than-expected 177,000 jobs in April as the job market showed resilience amid President Donald Trump’s trade war with China and widespread tariffs.
“We’re still pretty much where we thought we would be, and that is with solid job gains and a 4.2% unemployment rate, and that’s good,” Swonk told “NewsNation Now.”
“And we do know that since the report came out, we’ve had a lot of disruptions, most notably in trade with China.”
While acknowledging “the economy is still on firm footing,” Swonk believes market challenges await.
“We could still see some disruptions out there. We think we’re going to see more disruptions as we get into May and June,” she said.
Swonk told NewsNation that uncertainty is still widespread among CEOs and that, in isolation, is “its own tax on the economy.”
“They’re not making big decisions, are not making big investment plans. So that will come back and haunt us,” she added.
