"Fed's Mouthpiece": Fed Meeting Minutes Highlight Concerns Over Rising Prices

According to a report by Jinse Finance, "Fed's mouthpiece" Nick Timiraos stated that Federal Reserve officials expressed concerns during a meeting earlier this month that significantly raising tariffs could drive up prices and potentially trigger higher inflation. The latest meeting minutes show that policymakers generally agreed that with increasing economic uncertainty and rising risks of unemployment and inflation, they should not change their wait-and-see policy stance. The minutes stated: "Participants unanimously agreed that the uncertainty of the economic outlook has further increased, and it is appropriate to adopt a cautious approach until the net economic impact of a series of government policy changes becomes clearer." During the officials' meetings from mid-March to early May, Trump raised tariffs on most U.S. trade partners, then paused some of the most aggressive hikes.