Federal Reserve vice chairman Philip Jefferson said Wednesday that if the tariffs already unveiled by President Trump are sustained, it will cause "at least" a temporary increase in inflation. There are signs in the recent data of progress on inflation,

Consumer prices rose 2.3% in April compared to a year ago, cooling slightly from the previous month and defying fears of an inflation surge in the aftermath of President Donald Trump's "Liberation Day" tariffs last month. The reading -- which marked the lowest inflation rate since 2021 -- matched economists' expectations.

The US CPI is rising at the slowest rate in more than four years, but economists believe consumers will soon see the effects of President Trump's tariffs.

Recent inflation data shows a moderate increase, yet economists warn that Trump's tariffs could still impact the U.S. economy. With the Consumer Price Index rising by 0.2% in April, the Federal Reserve may pause interest rate cuts.

The dollar fell amid speculation that President Trump could seek agreements with other countries to devalue the dollar as part of trade deals. Reports that the U.S. and South Korea discussed exchange rate polices last week "should be enough to set a few alarm bells ringing" and clearly did given the dollar's negative reaction,

Investors eye more trade deals, updates from President Trump’s trip to the Middle East and fresh consumer inflation data after U.S. stocks soared Monday as investors celebrated major progress on U.S.-China trade talks.

American consumers, battle-scarred by the pandemic and the subsequent surge in inflation, are already changing their spending patterns and delaying some purchases due to President Donald Trump’s chaotic tariff policy and the broader economic uncertainty,

The White House has said its agreements with the U.K. and China are starting points, but so far the Trump administration has given up more than it has gained.