Fed’s Powell: In principle, changes in trade policy could cause us to revise the outlook

Central bankers continue to  respond  to questions from the audience at the ECB’s  panel  titled ‘Price and wage setting in advanced economies.’

Key quotes

• Draghi: Tariffs are not expected to have a significant impact on output or prices.
• Draghi: The most important thing about tariffs is their effects on consumer and business confidence.
• Draghi: Too early to assess consequences of tariffs on the  monetary policy; no grounds for optimism.
• Powell: In principle, changes in trade policy could cause us to revise the outlook.
• Kuroda: Indirect impact of tariffs on Japanese economy could be significant.
• Kuroda: I really hope the trade relationship between China and the United States goes back to normal.