WASHINGTON, D.C. — Shifts in US trade policy could hold back further progress in lowering inflation, a senior US central bank official said Tuesday, as President Donald Trump's sweeping tariffs ripple through the economy.
WASHINGTON, D.C. — Shifts in US trade policy could hold back further progress in lowering inflation, a senior US central bank official said Tuesday, as President Donald Trump's sweeping tariffs ripple through the economy. The US economy is 'still on a firm footing, but uncertainty has notably increased since the beginning of the year,' Fed eral Reserve Governor Lisa Cook told a Council on Foreign Relations event in New York.
For now, the Fed's preferred gauge of inflation — the personal consumption expenditures price index — rose 2.1 percent from a year ago in April. This was down from a month prior, but slightly above the central bank's longer-run 2-percent target. In a separate address in Iowa, Chicago Fed president Austan Goolsbee cautioned that encouraging inflation figures were 'old news,' saying they were the last reports before the effects of Trump's tariffs.
Exec Warns US Tariffs May Hamper Efforts To Cool Inflation
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