GOLDMAN ECONOMISTS: TARIFF INFLATION LIKELY TEMPORARY Goldman Sachs economists expect tariff-related inflation to be short-lived and not long-lasting. David Mericle notes that, unlike the 2021–2022 inflation surge, today's economy is weaker with a looser labor market and less fiscal stimulus. So far, inflation remains steady in official and anecdotal data. Mericle predicts the worst effects will fade by August, possibly allowing the Fed to cut rates by year-end.