Hey readers! The latest update from the Fed shows that the US economy, while picking up recently, is facing a gloomy outlook amid rising import tariffs and uncertainty. Many businesses are feeling the pressure as costs increase, and experts warn that consumer prices might climb faster by late summer. 😮
Across various industries, decision-makers are staying cautious. With tariffs at record levels, major hiring and layoff moves are being postponed until the economic fog clears. The sentiment? A careful wait-and-see approach as inflationary pressures loom.
Key voices from the Fed are urging restraint. Dallas Federal Reserve Bank’s Lorie Logan mentioned that interest rates may stay steady a while longer to keep inflation in check. Meanwhile, Boston Fed’s Susan Collins shared that there’s no rush to adjust the benchmark rate amid these uncertain times.
On the political side, President Trump's renewed critiques of Fed Chair Jerome Powell have stirred debate—even sparking rumors of a potential shake-up. Yet, for now, the focus remains on navigating through the current complexities and uncertainties in the market.
Stay tuned for more updates as these economic shifts continue to shape global and Asian markets. It’s a wild ride out there! 🚀
Reference(s):
Fed: US economy in 'pessimistic' zone amid tariff costs, uncertainty
cgtn.com