Chicago Federal Reserve Bank President Austan Goolsbee expressed concerns about the impact of President Donald Trump's announced tariffs, stating that they are larger than anticipated and could lead to higher costs for consumers. Goolsbee mentioned that the reaction of businesses and consumers to these increased costs is uncertain and could potentially slow down the economy. He referred to the tariffs as a "negative supply shock" and pointed out the challenges in the Federal Reserve's response to this situation. Goolsbee warned that the tariffs might bring back the inflation issues that the country has been trying to resolve in recent years.