Smart businesses that rely on Chinese goods are using bonded warehouses that would only have to pay the prevailing tariff at the time of extraction, which is hopefully much lower at a future time.

There are no fixes the Fed could implement to combat stagflation. That's why recovery from that kind of recession takes a decade or more.

The damage done by tariffs is the square of the rate in economic modeling. The current tariffs are ten times higher than the Smoot-Halley tariffs. The damage, therefore, is expected to be ENORMOUS.