Barackface: 17: Tariff

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These Retailers Are Raising Prices Because of Trump's Tariffs
Fed's Williams says tariff economic impact is only just starting ongoing uncertainty and warned against complacency over the impact of President Donald Trump’s import tax surge...... “Although we are only seeing relatively modest effects of tariffs in the hard aggregate data so far, I expect those effects to increase in coming months.” ...... “I expect tariffs to boost inflation by about 1 percentage point over the second half of this year and the first part of next year” ........ he expects the economy to slow to around a 1% growth rate this year, and for the unemployment rate, now at 4.1%, to rise to 4.5% by year’s end. ....... he sees inflation coming in between 3% and 3.5% percent this year, before ebbing back to “about” 2.5% next year. Williams sees inflation at the 2% target in 2027. He also said that he expects inflation in June to stand at 2.5% and core prices at 2.75%. ...... Trump has repeatedly blasted the Fed for not cutting rates, arguing the central bank needs to move the cost of short-term credit down to crisis levels. ........ Meanwhile, most Fed officials say they are in a wait-and-see mode regarding rate cuts, as they look to see how the president’s tariffs will affect inflation, which even now is at levels that stand above the Fed’s 2% target level.

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