The board minutes highlighted that ‘uncertainty remained about the timing, magnitude, and persistence of the effects’ of this year’s increase in duties.
Federal Reserve Chairman Jerome Powell testifies during a hearing before the House Committee on Financial Services on Capitol Hill in Washington on June 24, 2025. Madalina Kilroy/The Epoch Times
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It’s going to take a while to sort out the impact of President Donald Trump’s tariffs on inflation, so members of the Federal Reserve board are not in unity on whether it’s time to introduce a rate cut, minutes from the July policy meeting indicate.
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of “The War on Cash.”
