In a recent interview on Bloomberg TV (starting at minute 4:30, watch here), Professor Sebnem Kalemli-Ozcan discusses her latest research with co-authors Can Soylu and Muhammed Yildirim on the inflationary effects of tariffs.

Their findings suggest that tariffs could increase inflation by up to 1 percentage point, depending on the level of retaliation from other countries and the Federal Reserve’s policy response. Prof. Kalemli-Ozcan also emphasizes the economic risks posed by "tariff threats"—the uncertainty created by unpredictable tariff announcements—which can lead to reduced consumer spending and lower business investment and employment.