US consumers, business pay 90% of tariff costs, says Federal Reserve
The Federal Reserve's research challenges former President Trump's assertion that foreign companies would shoulder the costs, suggesting otherwise.
MAIN POINTS
- The Federal Reserve conducted research on economic impacts.
- Trump's claim was that foreign companies would bear financial burdens.
- The research findings contradict Trump's assertion.
- The implications of the research suggest a different economic burden distribution.
TAKEAWAYS
- Economic policies can have unexpected impacts contrary to political claims.
- Research by authoritative bodies like the Fed can provide clarity on economic issues.
- Political statements may not always align with empirical economic data.
- Understanding the true impact of policies requires thorough analysis and research.