Fed officials: If Trump's high tariffs cause unemployment to soar, they will support rate cuts

Odaily Odaily reported that Christopher Waller, a member of the Federal Reserve Board, warned on the same day that the trade war triggered by US President Trump may soon lead to rising unemployment. It is reported that the current employment situation in the United States is at risk because other countries have imposed retaliatory tariffs on US goods. If foreign customers reduce orders, some export-dependent industries in the United States may be forced to lay off employees. Waller said that if tariffs remain the same, there will be no significant impact on the US economy before July. If the Trump administration restores aggressive tariff levels, companies may begin to lay off employees, and if the unemployment rate rises sharply, he will support interest rate cuts. Waller emphasized that if the labor market deteriorates seriously, he expects more interest rate cuts soon.