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Will Next Week’s US Consumer Inflation Report Highlight Tariff Risk?
President Trump’s new round of “reciprocal” tariffs kicks in today, a shift that focus attention anew on forecasts by many economists that the levies on imports will raise inflation, if only temporarily. The outlook will be stress-tested with next week’s July data for the consumer price index (CPI), set for release on Tues., Aug. 12. Beth Hammack, president and CEO of the Federal Reserve Bank of Cleveland, earlier this week said that inflation could tick higher this year as businesses start to pass on the cost of higher tariffs to consumers through price hikes. “Individual businesses have been trying to ... (full story)
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