BlockBeats News, May 12th: Federal Reserve Governor Lael Brainard said on Monday that the Trump administration's tariff policy could push up inflation and drag down economic growth, even after reducing tariffs. Brainard stated, "Trade policy is evolving, may continue to evolve, and perhaps even this morning. However, even if tariffs remain near their currently announced levels, they seem likely to have significant economic effects."

Brainard pointed out that the current average tariff rate in the United States is still much higher than it has been for decades. She added, "If tariffs remain much higher than they were earlier this year, the impact on the economy will not change, including pushing up inflation and reducing economic growth." (FXStreet)