Kevin M. Warsh, in his first testimony to Congress as chairman of the Federal Reserve, did not shed light on whether he supported higher interest rates to tame price pressures.

Five new task forces are focused on topics that Kevin M. Warsh, the chairman of the Federal Reserve, has said are “central to the broad conduct of monetary policy.”

We study the short-run macroeconomic transmission of a US–China tariff war in an open economy multi-sector New Keynesian model with input–output linkages, sectoral nominal rigidities, and heterogeneous currency invoicing. A reciprocal 10 percentage-point tariff increase generates asymmetric incidence: the tariff-imposing country bears more of the inflationary burden, while the targeted country experiences the larger output contraction. Production networks amplify this contraction by propagating the shock beyond the directly tariffed bilateral margin.

Some tech executives are nervous that the administration’s recent scrutiny of artificial intelligence models could be a prelude to a demand for an ownership stake.