Fed’s Goolsbee Sees Ongoing Tariff Hikes Threatening Inflation Outlook

Federal Reserve Bank of Chicago President Austan Goolsbee said ongoing U.S. tariff increases are unlikely to end soon and could keep inflation elevated for longer than policymakers currently anticipate. Goolsbee warned that the existing levies appear to be "not one-and-done," suggesting further rounds may follow. He added that the cumulative effect of higher import duties poses a risk of "enduring inflation," complicating the central bank’s effort to return price growth to its 2% target.