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Former Federal Reserve Vice Chairman: The fight against inflation is not over yet.
BlockBeats News: On June 18, former Federal Reserve Vice Chair Richard Clarida warned that the battle against inflation is not over. The inflation data since January has indeed been better than expected, but the combined effect of moving forward inventories and new tariffs has yet to be fully felt. Richard Clarida pointed out that the real tariff rate faced by US consumers reached 15.6% in June, the highest since 1937, and could cause inflation to climb to the 3% range in the short term. The Fed’s last set of projections was released at its meeting in March this year, when the “Liberation Day” tariffs had not yet shocked markets and global trading partners. Against this backdrop, Richard Clarida said the real question is whether the Fed still expects to approve two rate cuts this year, or will it cut it to just one. (Golden Ten)