There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America
Update: 2025-11-03
Description
Top US bank analysts reveal the impact of tariffs on consumers' wallets: higher prices, increased inflation, and a potential rise in the cost of living. Despite initial intentions to boost American manufacturing, tariffs have led to significant expenses for businesses, which are now being passed down to consumers. With the overall tariff rate expected to climb, the future of consumer prices remains uncertain.
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