The COVID-19 pandemic shattered previous records for economic uncertainty levels. Now, however, economic policy uncertainty in the United States has eclipsed the prior March 2020 high. These uncertainties—related to geopolitics and trade policy—are in turn weighing on growth expectations in developed economies, note Senior Partner Sven Smit and coauthors.
To read the article, see “Global Economics Intelligence executive summary, March 2025,” April 25, 2025.