Powell: Tariffs' impact on consumer inflation "not a principal factor," expects tariffs to be a one-time pass-through

BlockBeats News, September 24th, Federal Reserve Chairman Powell stated that the United States is now receiving a significant amount of revenue from tariffs. The process of tariff passthrough to consumers has been later and less pronounced than expected. It appears that U.S. importers, rather than consumers, are bearing most of the tariffs.

The impact of tariffs on consumer inflation is "not a major factor," and we expect tariffs to have a one-time passthrough effect that will end by the end of next year. Ensuring that tariffs do not lead to long-term inflation "is our responsibility." Both objectives must be given equal weight, with the labor market and inflation tending to be more balanced, but still seeing downside risks to the labor market. (Xinhua)