Federal Reserve officials: If Trump's high tariffs cause unemployment to soar, they will support interest rate cuts

Golden Finance reported that Christopher Waller, a member of the Federal Reserve Board, warned on the same day that the trade war triggered by US President Trump may soon lead to an increase in unemployment. It is reported that the current employment situation in the United States is at risk due to retaliatory tariffs imposed by other countries on American goods. If foreign customers reduce orders, some export dependent industries in the United States may be forced to lay off employees. Waller stated that if tariffs remain in place, they will not have a significant impact on the US economy before July. If the Trump administration restores aggressive tariff levels, businesses may start laying off employees, and if the unemployment rate rises significantly, he will support interest rate cuts. Waller emphasized that once there is a serious deterioration in the labor market, he expects more interest rate cuts to occur soon.