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Powell: Trump tariffs will ‘delay’ progress against inflation
Federal Reserve Chair Jerome Powell stated that Trump's tariffs will worsen inflation and hinder economic stability for consumers and the Federal Reserve's goal of 2 percent inflation.
Judge James Boasberg ordered a pause on deportations, which the Trump administration allegedly defied, prompting criticism from White House Press Secretary Karoline Leavitt.
Democratic lawmakers expressed dissatisfaction with Senate Minority Leader Chuck Schumer's support of budget cuts, leading to calls for his leadership reconsideration.
Powell remarked that inflation is affected by tariffs, noting the Summary of Economic Projections indicates little progress on inflation this year.