Williams states inflation is around 3 percent with tariffs adding 0.5 to 0.75 percentage points.
“inflation is currently hovering around 3 percent, with tariffs contributing between one half and three quarters of a percentage point to this figure.”
Williams reports PCE inflation rose to 3.5 percent in March.
“On the price stability side of the Fed’s dual mandate, overall inflation—as measured by the Personal Consumption Expenditures price index—rose to 3-1/2 percent in March.”