Fed’s Musalem Says Outlook Unchanged If Tariffs Replaced 1-for-1

Federal Reserve Bank of St. Louis President Alberto Musalem said his economic outlook won’t change significantly if the Trump administration is able to maintain most of its tariffs through alternative approaches after the Supreme Court struck down some of the president’s global levies.

“If it were a one-for-one replacement, I probably wouldn’t change my outlook very much on a go-forward basis,” Musalem said Friday during an interview with Fox Business. He would also like to understand if companies will be receiving refunds and for how much, he said.