Diane Swonk

The better gauge of momentum is really the three-month annualized increase and six-month annualized increase, because this is momentum that the Fed is watching closely, and those are accelerating.

We also saw the largest increase in core goods prices that's stripping out food and energy that we've seen since the onset of the pandemic inflation in early 2022.

So this is all very hard for the Federal Reserve, which is weighing whether or not its next move will be up.

instead of down on rates.

Our trade and customs practice is already working on many businesses that are trying to submit.

refunds early.

The problem is the procedures have not been set up yet, and that is going to be very difficult.

Even the Supreme Court in their briefing used the word, this will be a mess.

There's a downside to this in that the new kinds of tariffs that the president can use are not easily turned on and off.

And the off part is the important part is that we're not going to be able to once they go through the investigations, those ones to replace the ones that were ruled illegal by the Supreme Court are going to be much harder to reverse once they go into place.

There's a downside to this in that the new kinds of tariffs that the president can use are not easily turned on and off.

And the off part is the important part is that we're not going to be able to once they go through the investigations, those ones to replace the ones that were ruled illegal by the Supreme Court are going to be much harder to reverse once they go into place.

There's a downside to this in that the new kinds of tariffs that the president can use are not easily turned on and off.

And the off part is the important part is that we're not going to be able to once they go through the investigations, those ones to replace the ones that were ruled illegal by the Supreme Court are going to be much harder to reverse once they go into place.

Diane Swonk is chief economist at KPMG.

Our trade and customs practice is already working on many businesses that are trying to submit refunds early.

The problem is the procedures have not been set up yet, and that is going to be very difficult.

Even the Supreme Court in their briefing used the word, this will be a mess.

What we're seeing is imports of AI inputs to data centers have soared.

And part of that is due to, one, the AI arms race and the fact that the administration have given the tech behemoths waivers on AI imports, the inputs.