by John Carney
Breitbart.com
Powell Refuses to Take the Media’s Tariff Panic Bait
The financial press is hyperventilating about Trump’s tariffs, but the Federal Reserve’s latest Summary of Economic Projections (SEP) makes clear the central bank isn’t buying the panic.
Instead, the Fed’s view is that the inflationary impact of tariffs will be both transitory and relatively small. Fed Chairman Jerome Powell made it clear during his press conference that while the Fed sees tariffs as contributing to higher inflation projections, they are far from the dominant factor.
“A good part of it is coming from tariffs, but we’ll be working and so will other forecasters to try to find the best possible way to separate non-tariff inflation from tariff inflation,” Powell said.