fed minutes, 2025-05-07
Regarding factors that might mitigate negative effects of tariffs on consumer spending, a few participants observed that the strength in the balance sheets of many households could help them absorb a tariff-induced reduction in their purchasing power; lower energy prices might help lessen strains on households' budgets; and households might shift spending from goods to services, which are likely to be less affected by tariffs.
Sentiment: neutral
Topic: mp_economic_activity