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Lawmakers and Economists Warn Tariffs Could Raise Prices, Weaken Treasury Demand
Summary
Members and witnesses at the task force hearing said large, unexpected tariffs would raise inflation and slow growth, creating difficult tradeoffs for the Fed and potentially affecting demand for Treasuries and dollar reserve status.
Ranking Member Vargas and other members raised concerns that the Trump administration's tariff actions could reduce investor confidence, increase inflation and complicate Treasury market functioning. Vargas framed tariffs as a major economic threat and asked witnesses how the tariff shock affects markets and households.
Dr. Kristin Forbes said the immediate effect of large tariffs is higher…
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