Fed's Kugler still thinks tariffs will have a big impact

Planet Daily News: Federal Reserve Board member Kugel stated on Monday that the Trump administration's tariff policies could potentially drive up inflation and hinder economic growth, even after tariff reductions. Kugel said, "Trade policies are evolving and may continue to change, even just this morning. However, even if tariffs remain around the currently announced levels, they seem likely to produce significant economic impacts." Kugel pointed out that the current average tariff rate in the United States remains far higher than levels seen in recent decades. She added, "If tariffs remain significantly higher than earlier this year, the impact on the economy would not change, including pushing up inflation and lowering economic growth." (Jin Shi)