PANews reported on March 5 that according to Jinshi, US President Trump has initiated tariffs on Canada and Mexico. Moody's Chief Economist Mark Zandi believes that the US economy may fall into stagflation. Recent data shows that US consumers and businesses are already worried about the economic outlook and have reduced spending. The relevant effects will lead to a significant slowdown in the economy, and the tariff effect will lead to high inflation, so the US economy may fall into stagflation. If true, it will be the first time the United States has fallen into stagflation in 50 years. The GDPNow model of the Atlanta Federal Reserve shows that the US economy may shrink by 2.8% in the first quarter. If true, it will be the first contraction since the first quarter of 2022. In the face of stagflation, the Federal Reserve may raise interest rates, just as former Federal Reserve Chairman Volcker raised interest rates sharply in the early 1980s, sacrificing the economy to curb inflation.