Are tariffs inflationary? Who will shoulder the increased cost? Will tariffs cause a recession? How do tariffs affect different products?

Federal Reserve officials are closely watching the levies, given the expectation that such policies could lead to higher prices.

By Michael S. Derby and Howard Schneider (Reuters) -The Trump administration's plans for trade tariffs come with inflation risks, three Federal Reserve officials warned on Monday, with one arguing that uncertainty over the outlook for prices calls for slower interest-rate cuts than otherwise.

Fresh tariffs amid high inflation are making the Fed’s job uniquely difficult and feeding uncertainty about what to expect for interest rates this year.