Tariffs, Inflation, and the Fed: The Chain Reaction Nobody Sees
Ken McElroy Show
Ken McElroy
4.7 • 712 Ratings
🗓️ 14 October 2025
⏱️ 50 minutes
🧾️ Download transcript
Summary
The escalating trade war between the U.S. and China could have far-reaching consequences beyond consumer goods—it’s threatening housing affordability, construction supply chains, and mortgage rates. Ken and Danille McElroy down how tariffs act as hidden taxes that raise costs across the housing market and could force the Fed to keep rates higher for longer.
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | The Fed is going to meet later this month to decide on whether or not to keep cutting rates. |
| 0:07.2 | But the tariffs in China may change everything. |
| 0:11.1 | See, I was in Mexico City over the weekend. |
| 0:13.1 | They're actually talking about this too, right? |
| 0:15.2 | Because they're a, you know, it's very, very different, obviously down there. |
| 0:18.3 | When you're reading the news about, you know, what's going on there versus China. Also very, very similar, obviously down there when you're reading the news about, you know, |
| 0:20.9 | what's going on there versus China. Also very, very similar. Are tariffs going to be inflationary? |
| 0:26.1 | Because that's going to, if they are, it's going to seriously impact real estate. |
| 0:30.3 | Yeah. And people, you know, I think that there's just this disconnect. You know, |
| 0:33.2 | people look at the tariffs impacting the stuff they're buying off Amazon, like the clothes |
| 0:37.4 | and things from China. |
| 0:38.8 | But realistically, this goes into building material, building costs, which also can affect mortgage rates depending on the inflation. |
| 0:46.8 | So there's a lot that this has to do with real estate. |
| 0:49.5 | Yeah. And I know obviously this is a super controversial topic. |
| 0:53.7 | Trump is not moving from his position |
| 0:56.6 | i can assure you that he wants to protect american industries and he believes strongly that this is |
| 1:02.4 | going to bring back jobs whether we believe it or not that's his view so um i you know this is |
| 1:08.6 | just going to he's doubling down here. And the reality is, is if imports |
| 1:13.9 | cost more, then the tendency would be for us to buy local or stay in the U.S. So now the question |
| 1:22.4 | is, is everybody's saying it's not going to create inflation and there's even some concern on whether |
| 1:30.0 | or not it will really bring jobs now you know that is i know personally plenty of companies that |
| 1:36.9 | are now moving their manufacturing back here and hiring so now that's a very very small sampling |
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