The President of the Federal Reserve Bank of Chicago, Goolsbee (who will have FOMC voting rights in 2025), stated that ignoring the potential consequences of tariff policies would be a mistake.
Companies with lengthy supply chains may suffer the most significant impact.
The COVID-19 pandemic has shown that U.S. inflation could be more severe than expected.
The Federal Reserve must strive to understand inflation from the perspective of an overheating U.S. economy, rather than understanding the economy from inflation.
Tariffs could pose a threat to U.S. inflation

Chicago Federal Reserve President Goolsbee (who will have FOMC voting rights in 2025): Ignoring the potential consequences of tariff policies would be a mistake. Companies with lengthy supply chains may be the hardest hit. The COVID-19 pandemic has shown that U.S. inflation could be more severe than expected. The Federal Reserve must strive to understand inflation from the perspective of an overheating U.S. economy, rather than understanding it from inflation. Tariffs could pose a threat to U.S. inflation

Federal Reserve official Goolsbee: Tariffs may pose a threat to U.S. inflation