American consumers may face increased costs in 2025 due to tariffs, according to Cleveland Federal Reserve President Beth Hammack. In a CBS News interview, Hammack stated that businesses are likely to pass on the expenses associated with tariffs to consumers, leading to a potential rise in prices for various goods and services. The increase could impact household budgets and potentially contribute to inflationary pressures within the economy. The extent of the impact will depend on various factors, including the specific tariffs in place and the ability of businesses to absorb some of the costs.