Tariffs already raising US inflation – Fed study
Researchers say trade policies were starting to affect consumer prices in March
Researchers with the Federal Reserve Board say they have detected the inflationary impact of president Donald Trump’s tariffs on the US in real time.
In a note published on May 9, Robbie Minton and Mariano Somale say the tariffs implemented in February and March on imports to the US from China led to a 0.33 percentage point rise in core goods personal consumption expenditure prices.
The authors say their findings are drawn from data available through March. They also point out that their model
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