St. Louis Fed Chairman Alberto Musalum spoke to the press on the weekend and was asked about the impact of tariff on inflation.
He said that it was 50/50 whether it would be the cause of continuous inflation or inflation for one or two quarters. Seriously, he also said that uncertainty would be going on around the tariff “right through summer”. In a best case, he said that uncertainty goes in July and is in a position to bite in September.
The market is pricing at 86% of the cut in September.
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