We do expect to show up — tariff inflation to show up more," Powell told the House Financial Services Committee. "But I want to be honest, we really don't know how much of that's going to be passed through to the consumers. We just don't know. And we won't know until we see it. It could be lower than we expect; it could be higher. We have to wait and see, which is kind of what we're doing."

Powell could just look at the data from Trump's tariffs during his first term and those continuing tariffs during Biden's term and see that very little to none of those costs were passed to consumers.

But then he couldn't make wishy-washy statements like the one above.

That's a very big "if."

Yup

Could go higher, could go lower, could stay the same

I'm on board with whatever trump wants to do .......lots of tears already.....more to come


Just imagine if that dumb beezoe was our prez......

You sound just like Powell.

"We'll just have to wait and see."

Donald Trump nominates Jerome Powell as Fed chair
2 November 2017

Is that a good or bad thing ?

I think that Powell is doing ok job outside of the Feds reaction to COVID

Good

With the yoyo discussions and dealing with tariffs, the economy may well go into a more stagnation type economy like Japan experienced for 20 years or so. Stagnation is not as severe as recession but typically last longer and are not good for workers trying to find their first jobs. Automation is cheaper then hiring labor, especially in softer economies or when there is more fluxuation in economic growth or lack there of. A lot depends upon who eats the costs of the tariffs. If producers absorb large portions then they will work to find different markets then if the end buyer or consumers pay for most of the tariff costs. To me right now there does not seem to be any attempt to work on long term solutions so hard to know at this time.

Bryce

Gasoline here went from 2.99 to 3.40 in the last 2 days.

I bought a bunch of KORO traps. Price has doubled because of tariffs. Ouch!

Look'n like y'all dug your heels in and still think its going to crash the economy.

Really good points.

Some of the things I've been reading is that although unemployment is low, few professional jobs are hiring. Im about to change jobs but im just not seeing growth positions.

My post at the start of this thread.....


So far I've been wrong, the economy hasn't crashed, the "pain" I referred to.

The reason I was for this appears to be happening, that is manufacturing coming back to the U.S., countries opening up their markets to U.S. goods and a more even playing field.

The extra revenue generated is icing on the top of it all. (over double previous years)

I think it's too early to tell if they are good or bad. Personally I've always been in favor of tarrifs to level the playing field so to speak.

On a related front; The US trade deficit has shrunk to a two-year low thanks mostly to Trump's tariffs. The US deficit with China has shrunk to a twenty one-year low!

As a direct result of the shrinking trade deficit and less imports, the US GDP has made big rebound during the second quarter of this year.

Our trade deficit with China is down about 70% since the beginning of the year.

"The Austrian School of economics generally views tariffs as detrimental to economic efficiency and individual liberty, advocating for minimal government intervention and free trade.
Austrian economists argue that tariffs distort market price signals, which are essential for the efficient allocation of resources, leading to misallocation and reduced overall prosperity.
Prices in a free market reflect consumer preferences, scarcity, and production costs, but tariffs artificially inflate the prices of imported goods, causing consumers and producers to make less efficient economic decisions."

Apparently a level playing field is where other countries charge no tariffs on U.S. products and we tax theirs 10 to 40%? Seems these are the deals?