NEW YORK: US Federal Reserve (Fed) chair Jerome Powell says it remains to be seen if the Trump administration’s tariff plans will prove to be inflationary, mapping out a checklist of things that could cause new import taxes to lead to more persistent price pressures.
“In a simple case where we know it’s a one-time thing, the textbook would say look through it,” with no need for the Fed to respond with tighter monetary policy, Powell said at a question-and-answer session during an economic forum in New York City.
