Economic Outlook - Richmond Federal Reserve President Tom Barkin indicates improved conditions for US consumers in July following earlier weakness [1]

Look, uh, we stand by the the results of the study. I think it's very early to be drawing definitive conclusions about how tariff costs will be shared, but in principle, tariff costs can be borne by foreign exporters, by US businesses or by US consumers. Now, we've had tariffs in place on that very first round from China for about 5 6 months.So, I think we have learned a little something. Our conclusion is that US businesses have borne most of the tariff costs so far because it takes time to negotiate lower ...