Not All Tariffs Costs Have Passed Through: JPM's Feroli

Bloomberg Published Updated Economy
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Affected assets and topics

INFLATION

Why it matters

JPM's chief US economist, Michael Feroli, believes a December rate cut is a 'very close call' due to potential tariff-related price pressures that may not have fully passed through to consumers, keeping core inflation in the upper-2% range.

Article tone

Neutral How the article is written, as reported by the source.

Expected market reaction

Bearish Confidence 65% How confidence is read Impact: Moderate

Market impact analysis based on bearish sentiment with 65% confidence.

Evidence trail

Evidence
Source Bloomberg
Claim Not All Tariffs Costs Have Passed Through: JPM's Feroli
AI inference Bearish · 65%
Generated 2025-11-20 22:48

AI provenance

Analysed by Llama 3.1 8B Instant (Groq) Methodology v1.0 Generated
Technical identifiers
Provider tag
groq-llama-3.1-8b-instant
Analysis version
groq-llama-3.1-8b-instant
Article id
13363

Original source

Michael Feroli, chief US economist at JPMorgan Securities, says a December rate cut will be a “very close call.” He tells Romaine Bostick and Katie Greifeld on “The Close” that tariff-related price pressures likely haven’t fully passed through and core inflation may stay in the upper-2% range longer than the Fed would prefer. (Source: Bloomberg)

Read the full article on Bloomberg

Original article published by Bloomberg on November 21, 2025. Analysis and insights provided by AnalystMarkets AI.

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