Powell: The impact of tariffs on consumers has been minimal so far
Jinse Finance reported that Federal Reserve Chairman Jerome Powell stated on Wednesday that so far, the impact of tariffs on consumer price increases has been minimal, with most of the costs being absorbed by businesses in the middle of the supply chain. "Clearly, there is some pass-through," Powell said at a press conference following the Fed's most recent policy meeting. Businesses engaged in trade "will tell you that they fully intend to pass on the (tariff) impact in a timely manner, but they are not doing so at this time."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The market awaits PCE, US stock index futures rise, 10-year US Treasury yield edges down, Brent crude drops 1%, gold stands above 4200.
Dow Jones futures rose 0.5%, S&P 500 futures increased by 0.3%, and Nasdaq 100 futures were up 0.2%. The yield on the 10-year U.S. Treasury note edged down slightly to 5.21%. Brent crude oil fell 1.0% during the day to $95.18 per barrel. Spot gold climbed above $4,200 per ounce, rising 0.44% on the day.
Update 2 - UK Greggs raises profit forecast but plans to close some factories
Bitmine CEO Tom Lee Explains the New Crypto Bull Market Could Be Bigger Than Previous Cycles! Here Are the Details
Crypto prices
More
