Chicago Federal Reserve Governor Goulsby said on Sunday that before the Trump administration's tariff measures came into effect, businesses and consumers wanted to hoard goods, which could lead to an “artificial rise” in US economic activity before falling back this summer. In an interview on Sunday, Goulsby said, “This kind of pre-emptive buying behavior is probably more obvious on the corporate side.” In particular, he pointed out that the automobile industry is hoarding imported parts. He said that although economic data has been steady since April, “we have heard a lot of news about early inventory establishment. These inventories may continue for 60 or 90 days.” “This kind of activity may initially seem artificially high, then it may fall back in the summer because people have already bought everything and bought it ahead of time.”

Chicago Federal Reserve Governor Goulsby said on Sunday that before the Trump administration's tariff measures came into effect, businesses and consumers wanted to hoard goods, which could lead to an “artificial rise” in US economic activity before falling back this summer. In an interview on Sunday, Goulsby said, “This kind of pre-emptive buying behavior is probably more obvious on the corporate side.” In particular, he pointed out that the automobile industry is hoarding imported parts. He said that although economic data has been steady since April, “we have heard a lot of news about early inventory establishment. These inventories may continue for 60 or 90 days.” “This kind of activity may initially seem artificially high, then it may fall back in the summer because people have already bought everything and bought it ahead of time.”