Fed's Goolsbee: Job market at full employment, GDP healthy but tariffs created 'hair on fire' moment

*TRUMP: WILL TARIFF DRUG COMOPANIES THAT DON'T MAKE A DEAL *TRUMP: WILL TARIFF PHARMA COMPANIES EXTRA 5% TO 8% IF NO DEALS Fact Sheet: President Donald J. Trump Announces First Deal to Bring Most-Favored-Nation Pricing to American Patients Today, President Donald J. Trump announced the first agreement with a major pharmaceutical company, Pfizer, to bring American drug prices in line with the lowest paid by other developed nations (known as the most-favored-nation, or MFN, price). • The agreement will provide every State Medicaid program in the country access to MFN drug prices on Pfizer products, resulting in many millions of dollars in savings and continuing President Trump’s historic efforts to strengthen the program for the most vulnerable. • The agreement ensures foreign nations can no longer use price controls to freeride on American innovation by guaranteeing MFN prices on all new innovative medicines Pfizer brings to market. • The agreement requires Pfizer to repatriate increased foreign revenue on existing products that Pfizer realizes as a result of the President’s strong America First U.S. trade policies for the benefit of American patients. The agreement requires Pfizer to offer medicines at a deep discount off the list price when selling directly to American patients.

Fed's Goolsbee: It would pain me not to get jobs data in shutdown. lack of BLS data because of a shutdown will have an impact on the Fed. Fed's Goolsbee: I hope that recent higher inflation proves a 'one-and-done' event. FED'S GOOLSBEE: I DON'T WANT TO FRONTLOAD RATE CUTS ON THE EXPECTATION CURRENT INFLATION WILL BE TRANSITORY. ...