Federal Reserve Governor Coogler still believes tariffs will have a significant impact

The Trump administration's tariff policies are likely to push up inflation and weigh on economic growth, even after the tariffs are lowered, Federal Reserve Governor Richard Coogler said on Monday. "Trade policy is evolving and will likely continue to change, even as recently as this morning," Coogler said. "Still, even if tariffs remain near the levels currently announced, they appear likely to have a significant economic impact." Coogler noted that average U.S. tariff rates are still well above levels seen in decades. "If tariffs remain much higher than they were earlier this year, there will be no change in the economic impact, including pushing up inflation and reducing economic growth," she added.