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There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America (www.businessinsider.com)

submitted 2 weeks ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Analysts at the Bank of America said tariffs have raised prices for consumers.

They wrote in a note that consumers have covered about 50% to 70% of the cost of levies to date.

This suggests tariffs will continue to put "upward pressure" on inflation, they said.

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[–] shalafi@lemmy.world 3 points 2 weeks ago* (last edited 2 weeks ago)

When one of the largest banks in America brings the receipts, that's kind of a big deal. This sort of report nullifies the political aspect.

No way in hell the administration calls The Bank of America woke. I mean, they can, but that particular attack will fall flat. Even the most brainwashed MAGA would simply ignore it like they do other ridiculous proclamations.

So if the best they can do is get ignored by their staunchest supporters, probably be best to STFU and not Streisand Effect the thing.