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Branch of the Federal Reserve covering New England
Tariffs introduced in 2025 have contributed a measurable bump to U.S. inflation: central estimates put the near-term addition to headline PCE at roughly 0.4–0.5 percentage points (June–August annualiz...
Tariffs enacted and expanded since April 2025 are empirically linked to a measurable uptick in consumer prices: model-based and empirical work estimates first-round effects ranging from roughly 0.5 to...
Available reporting and policy analysis shows a clear consensus that tariffs tend to raise the cost of imported goods and that a meaningful share of those costs has been passed on to U.S. consumers in...
Recent empirical work and policy analyses converge on the finding that the 2025 US tariffs raised consumer prices, with the largest effects concentrated in and sectors that directly compete with impor...
Academic research and central‑bank analyses find that tariffs reliably raise consumer prices—often passed through substantially to buyers—and that the effects on food and energy are non‑uniform: food ...
Yes — Americans generally pay for tariffs in economic terms: while importers legally remit duties to customs, a large body of recent empirical work concludes that U.S. importers, U.S. firms and ultima...
Tariff announcements in late 2024 and early 2025 are empirically linked to measurable upticks in U.S. price indices: research and central‑bank staff estimates place much of the initial impact in goods...
Tariffs raise the prices of imported goods and inputs and — depending on exemptions, corporate behavior, and pass‑through rates — much of that cost can fall on consumers; recent estimates put househol...
Analysts and official agencies have tied multiple 2020–2025 tariff moves—especially the large, broad 2025 tariff program announced April 2 and subsequent sector- and country-specific levies—to measura...
Multiple reputable analyses say tariffs implemented in 2025 have raised consumer prices and contributed a measurable share of recent inflation — the St. Louis Fed estimates tariffs explained about 10....
Federal fiscal stimulus in 2020 was massive — Congressional and executive actions pushed the federal deficit sharply higher (packages expanded deficits to roughly 13.1% of GDP in 2020) and delivered t...