He added there was "no reason" for markets to price in a recession. The Smoot-Hawley Act of 1930, maybe most familiar due to its inclusion in the 1986 film “Ferris Bueller’s Day Off,” was ...

President Herbert Hoover signed the Smoot-Hawley Tariff Act in 1930, even as many economists warned that the levies would prompt retaliatory tariffs from other countries, which is precisely what ...