Tariff impact 'unclear', complicates Fed policy path: UBS CEO
UBS chief Sergio Ermotti said the inflationary impact of US tariffs remains "unclear" making Fed policy harder to chart. The central bank is expected to cut rates at its September 16-17 meeting, with banks projecting three 25-bps cuts by year-end. Ermotti warned tariffs may hit consumers, while markets await August inflation data for clarity.