While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.
We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation.
Our obligation is to keep longer-term inflation expectations well anchored.
it feels like we don’t need to be in a hurry.
it is also possible that the effects could be more persistent
significantly larger than expected
highly likely to lead to at least a temporary rise in inflation
At the Fed, we are squarely focused on achieving the dual-mandate goals Congress has given us of maximum employment and ...
Looking ahead, higher tariffs will be working their way through our economy and are likely to raise inflation in coming ...
I will say, though, it feels like we don’t need to be in a hurry.
While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than...