The full suite of tariffs sought by the Trump administration would have created notable upward pressure for already high levels of inflation, a report by the Federal Reserve Bank of Boston released on Thursday said.

There’s a growing sense among some inside the Federal Reserve that President Donald Trump’s willingness to use tariffs as a tool to accomplish his administration’s aims will end up boosting inflation,

Here’s why Trump’s opening tariff salvo will likely hurt U.S. consumers. If U.S. voters reelected Donald Trump hoping for relief from higher prices, his recent threats to impose tariffs on America’s three largest trade partners might make them think again.

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.

American consumers are growing increasingly worried about how President Donald Trump’s tariffs could affect inflation that has persisted into his second term. A University of Michigan consumer survey for February showed that respondents expect the inflation rate a year from now to be 4.