Inflation surged in Jun. amid tariffs
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Tariffs, inflation, and Fed meddling
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A number of factors, including a lack of significant gains in auto prices, are masking the extent of the shift.
Tariffs contributed modestly to the rise of inflation last month, analysts told ABC News, citing the price hikes in product categories made up primarily of imports. But, they added, overall price increases owed largely to a rise in housing and food products with little connection to tariffs.
Indonesia also has agreed to purchase billions in U.S. energy, agriculture products and airplanes, Trump said July 15 in a social media post.
President Donald Trump may ultimately get his wish for lower interest rates, but it isn’t likely to be the result of his intensifying criticism of Federal Reserve Chairman Jerome Powell.
The U.S. will soon notify a group of minor trading partners that they will face tariffs higher than 10%, President Trump said on Tuesday evening. “We’ll be releasing a letter soon talking about many countries that are much smaller,