"The events we fear have become extraordinarily rare. But generally, as soon as they happen, the pilots know what to do and bring the plane back.

"About 75% of the tariff will be passed onto consumers. That means about $1,200 extra of expenses to the average U.S. household per year."

Speakers who attended the conference in suburban Boston seemed buoyed by recent rate cuts by the Fed and a more business-friendly environment.