Former senior White House official: The impact of tariff policy will be felt across the United States by the end of next month
2025-04-27 19:13:28
On April 27 local time, Gary Cohn, who served as the director of the White House National Economic Council during Trump's first presidential term, said that the impact of the current tariff policy in the United States will start to be felt nationwide by the end of next month, and this forecast is based on the time it takes for goods to be transported and distributed. Gary Cohn said that people with lower income levels and economic strength will spend 100% of their salaries on goods, while the rich will save a higher proportion of their income. This means that tariffs will have a greater impact on low-income Americans. On the issue of interest rates, Gary Cohn said that from the perspective of the Federal Reserve, the agency is fulfilling its mandate, so essentially, the Federal Reserve has no reason to take action to lower interest rates now. (CCTV News)
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