May 14, 2019 / 10:05 AM / 8 days ago

Fed's Williams says tariffs boost U.S. inflation

ZURICH, May 14 (Reuters) - Tariffs imposed by President Donald Trump on Chinese goods in the escalating trade war between the two countries will likely increase the U.S. rate of inflation, a top Federal Reserve policymaker said on Tuesday.

“It’s hard to know...we could probably get a couple tenths or two tenths on the inflation rate over the next year based on what has already been announced. If there (is) further escalation in terms of tariffs, those effects would get even larger,” John Williams, president of the Federal Reserve Bank of New York, told Bloomberg TV.

Reporting by John Revill; Editing by Michael Shields

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