The full impact of tariffs on inflation hasn't hit the economy yet: Economist

  • Although April's CPI (Consumer Price Index) report saw inflation ease — the annual inflation rate mellowed to 2.3% — the data print may not be accounting for the full tariff picture since President Trump's "Liberation Day" policies took hold on April 2. RBC Capital Markets economist Carrie Freestone looks ahead to the full impacts of the Trump administration's tariffs that have yet to come and what this all means for the Federal Reserve's interest rate forecast, while acknowledging the positive news related to the 90-day trade war truce that US and Chinese officials agreed to.