According to the latest financial report, on June 18, Richard Clarida ( indicated in his latest economic analysis that inflation issues still need to be taken seriously. He pointed out that although inflation data has performed more optimistically than expected year-to-date, the market has not yet fully absorbed the dual impact of inventory front-loading and new tariffs.

Clarida especially emphasized that the actual tariff rate paid by American consumers has risen to 15.6%, reaching a historical peak since 1937, which may lead to the inflation rate returning to the 3% range in the short term.
It is worth noting that the Federal Reserve's latest forecast was released during the March meeting this year, when the market had not yet felt the impact of the later so-called "Tariff Liberation Day." In this economic environment, Clarida questioned whether the Federal Reserve would still maintain its original plan for two rate cuts this year or possibly adjust it to only one cut. This viewpoint highlights the uncertainty and challenges currently facing monetary policy.