US refunds $166 billion in taxes: Fed concerned about inflationary pressures.

VTV.vn - The US financial market is experiencing mixed movements as tax refunds begin flowing to businesses.

The Fed is concerned about inflationary pressures.

The US financial market is experiencing mixed movements as tax refunds begin flowing to businesses, but inflationary pressures are showing signs of resurgence.

In early May 2026, the Trump administration began refunding $166 billion worth of tariffs to numerous importers, after the U.S. Supreme Court ruled that the tariffs exceeded its jurisdiction. Many businesses received refunds with interest, according to trade lawyers from Crowell & Moring and Faegre Drinker Biddle & Reath. For example, one Chicago importer received $5,700 for tax refund claims filed on April 25th.

The U.S. Customs and Border Protection (CBP) opened its online portal on April 20 to process tax refund requests, but has only processed approximately 1.74 million out of 53 million related shipments so far. Millions more applications have been rejected or are awaiting review due to their complexity. Some companies, such as FedEx and the game manufacturer Cards Against Humanity, have committed to sharing the tax refunds with their customers. The U.S. government is expected to provide an update on the program's progress on May 12.

Meanwhile, Federal Reserve officials warned that inflation could persist. Chicago Fed President Austan Goolsbee emphasized that oil prices remaining above $100 per barrel and gasoline prices exceeding $4.50 per gallon are putting significant pressure on supply chains, driving up the costs of raw materials such as aluminum, diesel, and helium. Alberto Musalem, St. Louis Fed President, stated that economic risks are shifting toward inflation as the Personal Consumption Expenditures (PCE) index for March 2026 rose to 3.5%.

This situation may force the Fed to keep interest rates at the current level of 3.50%-3.75%, or even consider raising them if necessary. High raw material costs and inflationary pressures are eroding business confidence and risk slowing down job creation in the near future.

Source: https://vtv.vn/my-hoan-thue-166-ty-usd-fed-lo-ngai-ap-luc-lam-phat-100260507135140738.htm