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No Surrender
A "reasonable base case" for tariffs is that their impact on US inflation is a one-off price increas
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Powell is principled man, who is a class act.
Yes
What’s the hurry? Let’s see how large an impact we start to see or not see from the 50% tariffs on Copper which finally kick in on Friday, no?
The copper tariff excludes raw copper.
That announcement triggered a bit of instability in the copper markets. Some specs had their heaads ripped off. Very sad.
But the “positive” outcome may be that the build-up in US copper inventories already drove domestic prices higher. Now some of that will likely be reversed. Prices may actually fall now. Whodathunkit?
12-dimensional chess!
“No advanced economy central bank does that” Does that exclude Japan from the list of advanced economies?
Note this: “It wasn’t a real question. McKee knows full well the official answer has to be ‘no,’ regardless of what the unofficial, wink-wink answer might be.”