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monetary policy
Facts (3)
Sources
New research examines the historical macroeconomic effects of ... equitablegrowth.org Mar 4, 2026 2 facts
claimden Besten and Kanzig find that tariffs have, on average, caused prices to rise, though shifts in monetary policy conditions over time, such as the transition from a gold-backed to fiat currency, have historically muted the price effect.
accountAfter World War II, U.S. monetary policy became more autonomous and exchange rates became more flexible, changing how tariff shocks propagated through the economy.
The price of protectionism: Understanding the economic tradeoffs of ... statestreet.com 1 fact
claimTariffs often play a secondary role in influencing currency markets compared to broader economic dynamics such as capital flows, monetary policy, and investor sentiment.