According to online reports, Austan Goolsbee, President of the Federal Reserve Bank of Chicago, said that continued and large-scale tariff increases may once again cause disruption to the supply chain and push up inflation. Goolsbee warned in a speech prepared for the event in Detroit not to assume that tariffs will not trigger inflation. He listed several lessons learned from the epidemic, among which supply-side disturbances, including supply chains, are the most important drivers of inflation and contribute to economic overheating during and after the COVID-19 impact. "If we see inflation rising or stagnant in 2025, then the Fed will be in a difficult position to try to figure out whether the source of inflation is overheating or tariffs," Goolsbee said."This distinction is crucial to determining when or even whether the Fed should act."