Fed survey finds tariffs pushing up prices, pinching profits

A FEDERAL RESERVE survey indicated that businesses are increasingly viewing tariffs as a drag on profits. / BLOOMBERG NEWS FILE PHOTO/QILAI SHEN
WASHINGTON – A new survey by the Federal Reserve Bank of New York found a growing conviction among businesses that President Donald Trump’s tariffs were hitting their bottom line. That’s the sort of concern which officials worry will sap U.S. economic growth and helps explain why they reduced interest rates last month for the first…

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