Kenneth Entenmann on tariffs
From Quarterly Market Insights: A Special Talk CNY Series-2026 Q1 with Ken Entenmann · · CenterState CEO
“Tariffs are a negative for the overall economy, but they're on such a tiny sliver of activity that the headlines are far greater than the actual impact. I do believe there's a good argument that President Trump has used tariffs to try to level the playing field for U.S. businesses, and if that results in a fairer global trading environment it may be worth a short‑term cost of slightly higher prices.”
On , Kenneth Entenmann, Senior Vice President, Chief Investment Officer & Chief Economist at N B T BANCORP INC, spoke about tariffs during Quarterly Market Insights: A Special Talk CNY Series-2026 Q1 with Ken Entenmann on CenterState CEO.
About Kenneth Entenmann
Kenneth Entenmann, Senior Vice President, Chief Investment Officer, and Chief Economist at NBT Bancorp, has continued to provide quarterly economic commentary through CenterState CEO's "Talk CNY" podcast series. In early 2026, Entenmann described the economy as resilient despite ongoing uncertainty around tariffs and artificial intelligence. He stated that the Supreme Court decision on tariffs had brought them back to the forefront, but argued that the underlying economic fundamentals remained solid. He noted that small businesses still report difficulty finding qualified workers, which he said suggests employment is unlikely to deteriorate rapidly. Entenmann also pointed to tax refunds as a potential stimulus for consumer spending and expressed optimism about local economic development, including the Micron project and new housing in Central New York. Throughout 2025, Entenmann characterized the year as one of "great distortion," citing the April tariff announcements and the government shutdown as factors that disrupted economic data. He described the economy as "remarkably resilient" and said he was not overly concerned about a softening job market, attributing part of the slowdown to those distortions. He highlighted the potential for AI to create more jobs than it displaces over the long term, and pointed to infrastructure projects, tax rebates, and greater policy clarity as reasons for optimism heading into 2026. On housing, he advised against waiting for mortgage rates to return to historic lows, stating that current rates are "not far off where they should be."