More from Fed’s Barkin: There is a wide range of outcomes from tariffs

More from Richmond Fed Pres. Barkin.

• Fed is cyberattacked all the time.
• We can’t rest on security protocols in place.
• Three levels of uncertainty with tariffs.
• First is what level on what countries.
• Next is what response will countries and companies have.
• How is all this going to land on the consumer.
• Who bears the cost of the tariffs in the end?
• Useful to look at 2018 and 2019 experience.
• Most of the studies suggest those delivered 30–40 basis points of inflation in an era with little inflation.
• What happened then was consumers kept spending, businesses kept hiring, but big businesses cut investment.
• There is a wide range of outcomes potentially.
• Globalization has been disinflationary.
• Does worry that de-globalization could be a headwind to US growth.

This article was written by Greg Michalowski at www.forexlive.com.