Fed Official: Trump’s 10% Universal Tariffs Would ‘Materially Increase Inflation’

President Donald Trump’s 10% tariffs on all trading partners would cause inflation to worsen in the near term, said one of the U.S.’ top monetary policy decision makers Thursday, as the central bank grapples with heightened economic uncertainty and direct calls from Trump to lower rates.

READ MORE: https://www.forbes.com/sites/dereksaul/2025/04/10/fed-official-there-is-no-playbook-for-how-to-respond-to-trumps-tariffs/