Federal Reserve Kashkari: Tariffs will cause inflation expectations to get out of control, and no more trade deficits means the United States is no longer the best place to invest
2025-04-22 19:00:21
Talking about the economic outlook, Federal Reserve Kashkari (non-voting committee) said that tariffs are inflationary to some extent and may also lead to slower economic growth. Logically, tariffs would lead to a one-time price increase, but he is concerned that in the context of already high inflation, tariffs could lead to runaway inflation expectations. Kashkari said that the Fed's job is to ensure that tariffs do not lead to long-term inflation, and it is too early to tell what is happening. He also said that no more trade deficits means that investors will have to conclude that the United States is no longer the best place to invest, and the volatility in bond yields and the dollar shows that global investors have reassessed the direction of investment. Kashkari wants the United States to maintain its dominance of the global economy and maintain the status of the dollar as the global reserve currency.
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