US Weekly: Fed biding its time

This week Fed Chair Jerome Powell didn’t sound overly reassured by the lack of an immediate impact of tariffs in consumer prices in May, warning that “it takes some time for tariffs to work their way through the chain of distribution to the end consumer”. We agree. Anecdotal evidence from retailers suggest that once they’ve worked through existing inventory, which should be soon, then more marked price increases will begin to filter through to consumers.