{"id":52604,"date":"2025-09-02T16:08:30","date_gmt":"2025-09-02T20:08:30","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/trump-warns-of-economic-disaster-amid-tariff-claims-federal-reserve-alerts-public-to-scams\/52604\/"},"modified":"2025-09-02T16:08:30","modified_gmt":"2025-09-02T20:08:30","slug":"trump-warns-of-economic-disaster-amid-tariff-claims-federal-reserve-alerts-public-to-scams","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-warns-of-economic-disaster-amid-tariff-claims-federal-reserve-alerts-public-to-scams\/52604\/","title":{"rendered":"Trump Warns of Economic Disaster Amid Tariff Claims, Federal Reserve Alerts Public to Scams"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Former President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> warned of an &quot;economic disaster,&quot; claiming that $17 trillion is at stake due to tariffs, a stance that could significantly impact global trade and market stability.<\/strong><\/li>\n<li><strong>The Federal Reserve issued a critical warning about ongoing scams via text messages and emails, urging the public to protect personal financial information from fraudsters who falsely claim suspicious bank account activity.<\/strong><\/li>\n<li><strong>Hawaii&#39;s Kilauea volcano has erupted, with lava fountains reaching up to 500 feet, marking the 32nd episode of its ongoing eruption since December 2024, raising concerns about localized environmental and economic impacts.<\/strong><\/li>\n<li><strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> also announced intentions to send the National Guard to Chicago, labeling it and Baltimore as &quot;hellholes,&quot; signaling potential federal intervention in urban areas to address crime, though specific timing remains undisclosed and local officials express strong opposition.<\/strong><\/li>\n<\/ul>\n<p>In a series of recent developments, former President Donald Trump has issued stark warnings regarding the U.S. economy, while the Federal Reserve has alerted the public to a surge in financial scams. Meanwhile, Hawaii&#39;s Kilauea volcano has erupted, and the U.S. military conducted a strike against a drug vessel in the Caribbean.<\/p>\n<h2>Trump&#39;s Economic Warnings and Urban Intervention Plans<\/h2>\n<p>Former President Donald Trump has cautioned against an impending &quot;economic disaster,&quot; asserting that a staggering <strong>$17 trillion<\/strong> is at risk due to current tariff policies. This declaration, reported by Axios, underscores his consistent focus on trade and its potential impact on the national economy. Such statements often create uncertainty in financial markets, particularly for sectors heavily reliant on international trade.<\/p>\n<p>Beyond economic policy, Trump also addressed domestic security, describing Chicago and Baltimore as &quot;hellholes.&quot; He announced plans to deploy the National Guard to Chicago, stating, &quot;We&#39;re going in, Timing Undisclosed.&quot; This move, intended to combat violent crime, has been met with significant pushback from local and state officials who argue against federal intervention in municipal policing. Illinois Governor JB Pritzker and Chicago Mayor Brandon Johnson have voiced strong opposition, with Johnson signing an executive order to limit cooperation with federal agents on civil immigration enforcement. The Pentagon has reportedly been preparing for a potential deployment of thousands of National Guard troops to Chicago.<\/p>\n<h2>Federal Reserve Warns of Pervasive Financial Scams<\/h2>\n<p>The Federal Reserve has issued an urgent warning to the public about sophisticated scams involving text messages and emails that falsely claim suspicious activity on bank accounts. Scammers are actively working to steal personal financial information, and the Federal Reserve emphasizes that it will <em>never<\/em> contact individuals unsolicited to request money or personal data. The public is advised to be vigilant and avoid clicking on suspicious links to protect themselves, their families, and friends from these fraudulent schemes.<\/p>\n<h2>Kilauea Volcano Erupts in Hawaii<\/h2>\n<p>Hawaii&#39;s Kilauea volcano has begun a new eruptive phase, with lava fountains reaching heights of approximately <strong>500 feet (150 meters)<\/strong>. This event, the 32nd episode of the ongoing Halema\u02bbuma\u02bbu eruption since December 2024, is confined to the Halema\u02bbuma\u02bbu crater within Hawai\u02bbi Volcanoes National Park. While commercial airports in Hawaii County are not expected to be affected, high sulfur dioxide gas emissions may impact communities southwest of the summit. Previous eruptions have caused significant property damage and losses in tourism revenue, highlighting the potential economic vulnerability of the region to such natural disasters.<\/p>\n<h2>U.S. Military Strike in Southern Caribbean<\/h2>\n<p>In a separate development, U.S. Secretary of State Marco Rubio confirmed that the U.S. military carried out a &quot;lethal strike&quot; on a drug vessel originating from Venezuela in the southern Caribbean. President Trump had initially mentioned the strike, which targeted a vessel operated by a designated narco-terrorist organization. This action signals an escalation in the Trump administration&#39;s efforts to combat drug trafficking from the region.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Former President Donald Trump warned of an &quot;economic disaster,&quot; claiming that $17 trillion is at stake due to 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