a matter of law
very long terms.
Trump's tariffs could present a potential conflict between its mandate to keep prices stable and promote full employment...
the Fed’s caution is Trump’s own tariff agenda, which is highly likely to generate at least a temporary rise in inflatio...
These are very fundamental policy changes.
Tariffs could lead to inflation, economic slowdown.
we would consider how far the economy is from each goal
The level of the tariff increases announced so far is significantly larger than anticipated.
There isn’t a modern experience of how to think about this.
For the time being, we are well positioned to wait for greater clarity.
Unemployment is likely to go up as the economy slows.
The same is likely to be true of the economic effects, which will include higher inflation and slower growth.
We understand that elevated levels of unemployment or inflation can be damaging and painful for communities, families, a...
Sometimes the surveys are very negative, but they keep spending.
We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation.
While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects...
it feels like we don’t need to be in a hurry.
Our obligation is to keep longer-term inflation expectations well anchored.
