1348 GMT - The associated uncertainty of U.S. trade policy under President Trump will have real-world consequences, and nowhere more true than at the Federal Reserve, Capital Economics chief economist Neil Shearing says. The Fed could be facing either a once-in-a-century tariff price shock, or a lot of sound and fury that ultimately signify something far less, he says in a note. Still, the uncertainty is likely enough to keep Fed officials on the sidelines over the coming months. If high tariffs are ultimately imposed then the subsequent rise in inflation will prevent further easing over the remainder of 2025, he says. "Much will depend on the whim of one man." (edward.frankl@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 08:48 ET (13:48 GMT)
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