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Fed Austan Goolsbee: Tariffs Far Exceed Forecast, May Bring Back Inflation Woes of 5/6 Yrs Ago
US President Donald Trump's announced tariffs are much higher than expected, and it is still unclear as to how quickly or how much of the higher costs will be passed on to cons...
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Fed Austan Goolsbee: Tariffs Far Exceed Forecast, May Bring Back Inflation Woes of 5/6 Yrs Ago
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US President Donald Trump's announced tariffs are much higher than expected, and it is still unclear as to how quickly or how much of the higher costs will be passed on to consumers and to what extent businesses and consumers will respond by scaling back spending, thereby slowing economic growth, Chicago Fed President Austan Goolsbee said on Tuesday.

The Chicago Fed just learnt what happens when inflation gets out of control, while the tariffs were a negative supply shock, fearing a return to a predicament which it has been desperately trying to get away from the past 5 years, Goolsbee added.

Related NewsISM Services PMI for Apr in United States is 51.6, higher than the previous value of 50.8. The forecast was 50.6.

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