Tariff hike could crimp consumer spending and lead to rate cuts: Fed's Bostic
Atlanta Fed President Raphael Bostic said Friday the central bank might have to cut interest rates if consumer spending suffers as a result of the new round of tariffs placed on Chinese goods overnight.
“The first round of tariffs... most businesses, that we talked to, said ‘we did not pass through most of that elevated costs through to the final customer,’” he said. Bostic has also said the tariffs might spur inflation, suggesting interest rates might have to move higher.
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