The Federal Reserve report: Tariffs may be the reason for the recent rise in inflation, and assessing the impact will take time.

[Chain News] PANews June 20 - The Federal Reserve (FED) released its latest monetary policy report to Congress on Friday, stating that the inflation rate in the United States has risen, the labor market conditions are robust, but it hinted that the impact of Trump’s tariff measures may have just begun to emerge, reiterating the FED’s view that it can wait for clearer conditions before taking action. The FED stated in the report: “The impact of this year’s increased import tariffs on U.S. consumer prices is highly uncertain, as trade policies continue to evolve, and it is still too early to assess how consumers and businesses will react. Although the impact of tariffs cannot be directly observed from official consumer price statistics, the net price change patterns of various goods this year suggest that tariffs may be one of the reasons for the recent rise in goods inflation.” The report also stated that despite the uncertainty, the financial system has remained “resilient.”