Reported 9 days ago
Chicago Federal Reserve Bank President Austan Goolsbee highlighted growing anxiety among businesses regarding U.S. tariffs under President Trump's administration. He emphasized the need for the central bank to focus on concrete economic data when determining its policy response, warning that escalating tariffs could lead to inflation akin to the conditions seen in 2021 and 2022. While acknowledging the potential for trade negotiations to avert severe tariff increases, Goolsbee noted that shifts in spending behavior could compel a Fed reaction, contingent on economic growth and price trends.
Source: YAHOO