And that will impact businesses, the housing market and consumers.

Carola Binder, an economist at the University of Texas at Austin, explains why tariffs might cause prices to rise, but they doesn’t necessarily mean the Fed will get involved right off the bat.

A lot has happened in monetary policy since the last time the Federal Reserve updated its long-term strategy goals.

It was the lead-up to the 1972 presidential election. An era of “stagflation” was ahead. And President Richard Nixon had a plan.

Despite high prices, “wages are growing faster than inflation,” and families’ purchasing power is growing, he says.

Scanlon explains her philosophy of economic education in this excerpt from her book, “In This Economy? How Money & Markets Really Work.”

Rising costs have long been a concern for Americans. What’s changed is how the government intervenes in prices, economist Carola Binder writes.

The government’s fiscal policy is fairly neutral now for a reason: More stimulus spending could hurt the Fed’s fight against inflation.

There is growing confidence that the Fed can pull off lowering inflation without a recession, said Chicago Fed CEO Austan Goolsbee.

A concept popularized by Milton Friedman in the 1960s still influences how the Fed talks about monetary policy today.