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Reply to "Trump tariffs: ruin U.S. economy until 2040"
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[quote=Anonymous]Fed weighed in today on the effect of Trump’s tariffs. It’s not good Fed Chair Jerome Powell took to the podium on Wednesday to reaffirm what he’s been saying for months: This economic downturn is a direct result of President Trump’s tariffs. “Increases in tariffs this year are likely to push up prices and weigh on economic activity. The effects on inflation could be short-lived, reflecting a onetime shift in the price level. It’s also possible that the inflationary effects could instead be more persistent,” Powell said. “Avoiding that outcome will depend on the size of the tariff effects, on how long it takes for them to pass through fully into prices, and ultimately, on keeping long-term inflation expectations well-anchored.”[/quote]
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