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The Federal Reserve's Goolsbee: The implementation of tariffs far exceeds the previous model predictions of the Federal Reserve.
Odaily News The Federal Reserve's Goolsbee stated that the impact of tariffs has far exceeded our previous model predictions. The Federal Reserve must view the issue from a longer-term perspective, rather than being as volatile as the stock market. There are divisions within the Federal Reserve regarding how quickly or to what extent the increase in tariffs will be passed on to consumers, which could lead to supplier bankruptcies, and a disbelief in economists' predictions of inflation due to tariffs, as there was no inflation during Trump's first term. (Jin10)