Powell: Tariffs are "not a major factor" in consumer inflation, and the impact of tariffs is expected to be a one-time pass-through effect.

BlockBeats News, on September 24, Federal Reserve Chairman Jerome Powell stated that the United States is currently receiving a considerable amount of revenue from tariffs. The process of tariffs being passed on to consumers has been later and smaller in scale than expected. It appears that U.S. importers, rather than consumers, are bearing most of the tariffs.

The impact of tariffs on consumer inflation is "not a major factor." We expect tariffs to be a one-time pass-through effect, which will end by the end of next year. Ensuring that tariffs do not trigger long-term inflation "is our responsibility." We must give equal attention to both objectives. The labor market and inflation are becoming more balanced, but there are still downside risks in the labor market. (Golden Ten Data)