Rechenberg: Tariffs aren’t driving inflation, ask the Fed
Published . Updated .
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This report is about tariffs and trade and US interest rates.
Directly affected
- No company is named in this report.
Indirectly affected
- XLI Industrial Select Sector SPDR-0.4% 30d
Industrial Select Sector SPDR: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds companies hit by import costs and trade rules. Linked by “tariff” (tariffs and trade) in this story.
- TLT iShares 20+ Year Treasury Bond ETF+0.2% 17d
iShares 20+ Year Treasury Bond ETF: Treasury bond prices move with interest-rate expectations. Linked by “fed” (US interest rates) in this story.
- TIP iShares TIPS Bond ETF+0.7% 17d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- JPM JPMorgan Chase-1.4% 30d
JPMorgan Chase (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story.
- CAT Caterpillar-27.2% 30d
Caterpillar (construction machinery and equip): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
- BAC Bank of America-12.4% 30d
Bank of America (national commercial banks): rate changes move lenders' margins and borrowers' demand. Linked by “fed” (US interest rates) in this story.
- DE Deere+0.7% 30d
Deere (farm machinery and equipment): importers and exporters pay or lose sales when tariffs change. Linked by “tariff” (tariffs and trade) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| XLI | -3.98% | -0.39% | base | after close | after close | after close | after close |
| XRT | -1.32% | +1.93% | base | after close | after close | after close | after close |
| TLT | +2.75% | +1.45% | base | after close | after close | after close | after close |
| TIP | +1.44% | +0.49% | base | after close | after close | after close | after close |
| JPM | -2.42% | -0.21% | base | after close | after close | after close | after close |
| CAT | -7.69% | -3.42% | base | after close | after close | after close | after close |
| BAC | -2.23% | +0.32% | base | after close | after close | after close | after close |
| DE | -0.82% | +1.30% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Rechenberg: Tariffs aren’t driving inflation, ask the Fed Boston Herald
Source: Boston Herald
This story
| Company | When | Move | Status |
|---|---|---|---|
| BAC | three days earlier | +0.32% | final price |
| BAC | five days earlier | -2.23% | final price |
| CAT | three days earlier | -3.42% | final price |
| CAT | five days earlier | -7.69% | final price |
| DE | three days earlier | +1.30% | final price |
| DE | five days earlier | -0.82% | final price |
| JPM | three days earlier | -0.21% | final price |
| JPM | five days earlier | -2.42% | final price |
| TIP | three days earlier | +0.49% | final price |
| TIP | five days earlier | +1.44% | final price |
| TLT | three days earlier | +1.45% | final price |
| TLT | five days earlier | +2.75% | final price |
| XLI | three days earlier | -0.39% | final price |
| XLI | five days earlier | -3.98% | final price |
| XRT | three days earlier | +1.93% | final price |
| XRT | five days earlier | -1.32% | final price |
Congressional trades in the stocks in this story
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a dependent child), worth $1,001 - $15,000 on 15 Oct 2026. That is 29 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna bought Jpmorgan Chase (JPM) (held by a spouse), worth $100,001 - $250,000 on 8 Oct 2026. That is 36 days before publication. Filed 5 Nov 2026. View the filing.
- Sen. Sheldon Whitehouse sold Jpmorgan Chase (JPM) (held by a spouse), worth $15,001 - $50,000 on 4 Sep 2026. That is 70 days before publication. Filed 1 Oct 2026. View the filing.
- Rep. Lisa McClain bought Caterpillar (CAT) (held by a spouse), worth $1,001 - $15,000 on 28 Sep 2026. That is 46 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 20 Oct 2026. That is 24 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a dependent child), worth $1,001 - $15,000 on 13 Oct 2026. That is 31 days before publication. Filed 5 Nov 2026. View the filing.
- Rep. Rohit Khanna sold Bank Of America (BAC) (held by a spouse), worth $1,001 - $15,000 on 9 Sep 2026. That is 65 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
How solid “Rechenberg: Tariffs aren’t driving inflation, ask the Fed” looks
12 out of 100
“Rechenberg: Tariffs aren’t driving inflation, ask the Fed” scores 12 out of 100. The score uses 1 sources.