• We will be moving away from goals for the balance of the year, perhaps we can resume next year
• Tariffs are higher than we expected even in our upside case
• To the extent it takes longer for tariffs to hit, that risks higher inflation expectations
• Our role is to make sure this is a one-time increase in prices only
• CEOs he spoke with yesterday say uncertainty and imports are ‘a huge issue’
• Notes that covid shortages of chips led to disruption of autos and it contributed to inflation

The stock market is selling off on his comments

This article was written by Adam Button at www.forexlive.com.