How tariffs could reshape the US inflation outlook

February’s US inflation data came in lower than expected, offering some relief after months of stalled progress. However, uncertainty remains over how new tariffs from the Trump administration could affect consumer prices in the coming months. The Federal Reserve is widely expected to hold interest rates steady at its March meeting, but market expectations for cuts later in 2025 are rising. With inflation still above target and economic conditions evolving, the Fed’s next move will depend on whether inflation continues to decline or if trade policies introduce fresh upward pressure on prices....