FedResearch(@FedResearch):We analyze 125,000 US households' transactions to measure how the 2025 tariffs affected spending. Tariffs passed through 15-20% to retail prices, raising affected-good prices 1-2% but households cut spending by 4%, 3 to 4 times the price increase (1/3)

FedResearch

@FedResearch

The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors

가입 August 2019

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FedResearch@FedResearch

2026.08.27 13:03

We analyze 125,000 US households' transactions to measure how the 2025 tariffs affected spending. Tariffs passed through 15-20% to retail prices, raising affected-good prices 1-2% but households cut spending by 4%, 3 to 4 times the price increase (1/3)