Trump's Tariffs Drive Inflation, Dimon's Debt Crisis Warning And More: This Week In Economy

The week was filled with significant developments, from the revelation of the driving force behind the recent inflation surge to a dire warning about the U.S. debt crisis. Here’s a roundup of the top stories that unfolded over the week.
Federal Reserve Research Confirms Trump Tariffs Drove Excess Inflation In 2025
A new study by the Federal Reserve has attributed the recent spike in core goods inflation to the sweeping U.S. tariffs imposed in 2025 by President Donald Trump. The tariffs led to a direct increase in consumer prices.
The research, detailed in an April 8 FEDS Note by economists Robert Minton, Madeleine Ray and Mariano Somale, suggests that the tariffs implemented through November 2025 caused a significant 3.1% rise in core goods personal consumption expenditure (PCE) prices by