Former White House Official: The Impact of Tariff Policy Will Become Apparent Nationwide by the End of Next Month

On April 27th local time, Gary Cohn, who served as the Director of the National Economic Council during Trump’s first presidential term, stated that the impact of the current U.S. tariff policy will begin to be evident nationwide by the end of next month. This prediction is based on the time required for the transport and distribution of goods. Gary Cohn said that people with lower income and economic strength will spend 100% of their salary on purchasing goods, while the wealthy will save a higher proportion of their income. This means tariffs will have a greater impact on low-income Americans. Regarding interest rates, Gary Cohn stated that from the perspective of the Federal Reserve, the institution is fulfilling its assigned duties, so fundamentally, there is no reason for the Federal Reserve to take action to lower interest rates. (CCTV News)