Golden Ten Data on May 29, “Federal Reserve Mouthpiece” Nick Timiraos said that Fed officials said at a meeting earlier this month that they were concerned that a sharp increase in tariffs would push up prices and could trigger higher inflation. The latest minutes showed that policymakers were largely unanimous that heightened economic uncertainty and increased unemployment and inflation risks should not change their wait-and-see policy stance. “Participants agreed that uncertainty about the economic outlook has increased further, so caution is appropriate until the net economic impact of a series of changes in government policy becomes clearer,” the minutes said. "During a meeting of officials in mid-March and early May, Trump raised tariffs on most U.S. trading partners and subsequently suspended some of the most aggressive tax hikes.
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