Fed's Musalem: Congress has recognized the value of central bank independence

Congress formerly valued many things that I’m not so sure it values anymore, like the ability to set tariffs.More:Expects that the impacts of tariffs on inflation to last 2-3 quartersWhat I think a lot of economists are missing is the start of the renegotiation of USMCA starting in mid-2026 and running through year end. About 28% of US imports come from that region and spiking the tariff rate there would lead to a second round inflation effect that starts to look more like ‘persistent’ inflation than a one off.
This article was written by Adam Button at investinglive.com.

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