The Federal Reserve (FED) monetary policy report: It is still too early to assess the impact of tariffs on the economy.

PANews, June 20 - According to Jin10, the latest monetary policy report released by the Federal Reserve to Congress on Friday stated that the U.S. inflation rate has risen, the labor market conditions are solid, but it suggested that the impact of Trump’s tariff measures may just be beginning to show, and reaffirmed the Federal Reserve’s view that it can wait for clearer circumstances before taking action. The Federal Reserve stated in the report: “The impact of increased import tariffs on U.S. consumer prices this year is highly uncertain, as trade policy continues to evolve, and it is still too early to assess how consumers and businesses will respond. Although the impact of tariffs cannot be directly observed in official consumer price statistics, the net price change patterns of various goods this year suggest that tariffs may be one of the reasons for the recent resurgence in goods inflation.” The report also stated that despite the uncertainty, the financial system has remained “resilient.”