Bostic: Businesses say they plan to pass through Trump tariff costs

Reuters02:50

WASHINGTON, Feb 3 (Reuters) - Businesses say they are planning to pass through higher import taxes directly to consumers, Atlanta Fed President Raphael Bostic said on Monday, though it remains unclear whether that would amount to enough of an inflation shock for the Fed to respond.

"We've heard pretty consistently that all of them were planning to pass that through...That's the baseline response," Bostic said in comments to reporters. "The ultimate question about whether that is significantly inflationary depends on exactly how it plays out...There's a state of play where you might look through the tariff and not have it be a major driver of policy...To the extent that were to impact things like inflation expectations then you'd have to."

(Reporting by Howard Schneider; Editing by Lisa Shumaker)

((howard.schneider@thomsonreuters.com; +1 202 789 8010;))

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