Donald Trump’s erratic trade policy is jeopardizing the soft landing of the U.S. economy, steered by Federal Reserve Chairman Jerome Powell. Just as inflation was finally approaching the 2% price stability target, the tariffs imposed by the president on the world are threatening to push it up again, although so far their effect has been limited. Prices rose 0.1% on a monthly basis in May, according to data released Wednesday by the Bureau of Labor Statistics. Inflation rose 2.4% in May from a year earlier, compared with a 2.3% yearly increase in April. Economists had been expecting an annual increase of 2.5%.
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