Powell: Overall effects of tariffs on economy 'remain to be seen'

Changes to government policies continue to evolve and their effects on the economy remain uncertain. Higher tariffs have begun to show through more clearly to prices of some goods, but their overall effects on economic activity and inflation remain to be seen. A reasonable base case is that the effects on inflation could be shortlived, reflecting a one-time shift in the price level.But it is also possible that the inflationary effects could instead be more persistent and that is a risk to be assessed and ma ...