American consumers are being squeezed dry! The president of the Federal Reserve Bank of Richmond warns that businesses may not be able to pass on the cost of tariffs through price increases.

According to the Securities Times app, on Friday, the President of the Richmond Federal Reserve, Barkin, warned that although companies may want to pass on the cost of tariffs by raising prices, in reality consumers' ability to bear it is close to the limit, making this strategy difficult to work.