On April 28th, Gary Cohen, who served as the Director of the White House National Economic Council during Trump’s first presidential term, stated on April 27th local time that the impact of the current US tariff policy will begin to manifest nationwide by the end of next month, based on the time required for goods transportation and distribution. Gary Cohen said that people with lower income levels and economic strength will spend 100% of their salary on purchasing goods, while the wealthy will store a higher proportion of their income. This means that tariffs will have a greater impact on low-income Americans. On the issue of interest rates, Gary Cohen stated that from the perspective of the Federal Reserve, this institution is fulfilling its assigned responsibilities, so fundamentally, the Fed has no reason to take action to lower interest rates now.
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