Trade Uncertainty Trumps the Fed for Janus Henderson's Maris

The video discusses the critical need for resolving trade issues between the US and China to ensure global economic growth. Prolonged trade negotiations have caused economic uncertainty, affecting businesses worldwide. The video also compares the impact of trade issues with the Federal Reserve's actions, highlighting that trade frictions have made the Fed's tightening policies more problematic. Resolving trade issues could allow the Fed to return to a tightening regime without exacerbating economic challenges.

According to the text, why has the Fed's role become more important recently?

What does the speaker suggest could happen if trade issues are resolved?