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Powell: Trump tariffs will ‘delay’ progress against inflation
Federal Reserve Chairman Jerome Powell stated that Trump's tariffs will not cause lasting inflation, describing them as possibly transitory in nature, and emphasized a patient approach to policy adjustments.
Businesses predict prices will rise by approximately 3 percent, while Canadian consumers expect a 4 percent increase, according to the Canadian Survey of Consumer Expectations.
White House Press Secretary Karoline Leavitt claimed that tariffs are a tax cut for the American people, which contrasts with the sentiment among consumers and economists regarding inflation.
During a recent press conference, Powell noted, "We do not need to be in a hurry to adjust our policy stance," suggesting caution regarding inflation behavior related to tariffs.