Atlanta Fed President Raphael Bostic says assuming tariffs will produce a one-time increase in prices isn't so straightforward when announced import duties keep changing. “The textbook notion about tariffs is that … the tariffs get applied once, and everybody understands what they are." "That’s not the environment we’ve had over the last several months, and so there’s a question about how people will respond—to take on board a rollout that extends over a protracted period of time.” https://www.wsj.com/livecoverage/stock-market-today-trump-tariffs-trade-war-06-03-2025/card/bostic-why-the-fed-can-t-assume-tariff-inflation-will-be-one-off-tnh4oBuHi30YMFZGvMby