Chicago Federal Reserve Bank President Austan Goolsbee highlighted that though concrete data indicates a strong U.S. economy, a robust labor market, and decreasing inflation from its 2022 peak, the implementation of extensive new tariffs by President Donald Trump could result in inflation resurgence or an economic downturn. Goolsbee expressed on Fox News that since imports constitute only 11% of the American economy, the influence of tariffs on overall prices might be restricted. He cautioned against concerns if this percentage surpasses, due to higher production costs across various industries from added import levies, or shifts in consumer and business behavior due to uncertainty or fear, leading to a potential economic disruption.