Federal Reserve Monetary Policy Report: It is too early to assess the impact of tariffs on the economy

PANews June 20 news, according to Jinshi, the latest monetary policy report released by the Federal Reserve to Congress on Friday stated that the US inflation rate has risen and the labor market conditions are solid, but it hinted that the impact of Trump's tariff measures may have just begun to appear, and reiterated the Fed's view that it can wait for clearer conditions before taking action. The Fed said in the report: "The impact of increased import tariffs on US consumer prices this year is highly uncertain, as trade policies continue to evolve, and it is too early to assess how consumers and businesses will react. Although the impact of tariffs cannot be directly observed from official consumer price statistics, the pattern of net price changes for various commodities this year suggests that tariffs may be one of the reasons for the recent rebound in commodity inflation." The report also said that despite the uncertainty, the financial system has been "resilient."