At the Detroit Lakes Economic Summit, Neel Kashkari, President of the Minneapolis Federal Reserve, discussed the influence of tariffs on inflation and interest rates in the U.S.
Tariff-Induced Inflation Risks
Neel Kashkari noted that tariffs imposed by the Trump administration create significant inflation risks, complicating possible interest rate cuts. He emphasized that such measures could dampen investment and economic growth.
Bitcoin Volatility Amid Economic Uncertainty
Bitcoin has shown volatility with a price of $77,778.20 and a market cap of $1.54 trillion. In the last 24 hours, its price declined by 2.16%, indicating investor concerns over recent economic events and regulations affecting trading volumes.
Conclusion
Kashkari expressed that the barrier to changing interest rates due to tariffs has significantly increased. This underscores the complexity of the challenges facing the Federal Reserve amid economic instability.
These assessments demonstrate that tariff influences on inflation and the economy present serious challenges for federal policy and pose risks to cryptocurrency markets.
