Officials at the Federal Reserve are worried that Trump’s policies will cause inflation to rise once again. Recent meeting notes included four separate mentions of the economic impact of changes on immigration, inflation, and trade policy, according to CNBC reporting.
“Almost all participants judged that upside risks to the inflation outlook had increased,” the minutes said. “As reasons for this judgment, participants cited recent stronger-than-expected readings on inflation and the likely effects of potential changes in trade and immigration policy.”
Trump has been making broad threats about hardline tariffs against China, Canada, and Mexico, as well as promising mass deportations and deregulation. All of these things are causing the Fed to move carefully.
Officials noted that they still expect inflation to get down to 2 percent, but not until 2027 at the earliest.
“In discussing the outlook for monetary policy, participants indicated that the Committee was at or near the point at which it would be appropriate to slow the pace of policy easing,” the meeting minutes said.
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