Fed leaves interest rates unchanged, as expected

Jul 31, 2025 12:07 AM ISTUS Stock Market LIVE Updates: Tariffs to Push Inflation Higher Ahead of Fed’s September Meet: JPMorganInflation is likely to worsen significantly before the Federal Reserve’s September meeting, warned David Kelly, Chief Global Strategist at JPMorgan, in a conversation with CNBC. “We haven’t had historical experience with tariff increases of this scale,” Kelly said, noting that the average tariff rate is expected to approach 20% by Friday, a sharp jump from earlier in the year.
Kelly believes the tariff burden will mostly fall on U.S. consumers rather than corporate profits, which could complicate the Fed’s ability to justify rate cuts in the near term. Several companies have already flagged pricing adjustments. Procter & Gamble announced mid-single-digit price hikes on about a quarter of its products in Q1 FY26, citing tariffs as one of the drivers. Nike has also confirmed that it will raise prices in response to rising import costs.

Source link