TechFlow, June 18 — According to Jinshi Data, Richard Clarida, former Vice Chair of the Federal Reserve and current PIMCO advisor, stated that although U.S. inflation performed better than expected at the beginning of the year, it will still face significant upward pressure later due to advanced inventory stocking and cumulative tariff impacts. He noted that the average effective U.S. tariff rate rose to 15.6% in June, the highest since 1937, which could push inflation back above 3%. Clarida questioned whether the Federal Reserve should still maintain its forecast of two rate cuts this year and emphasized that if the market doubts the new chair's independence, stock and bond markets would react sharply. He believes the 10-year Treasury yield already indicates a return of the "bond vigilantes."
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