US EditionTrump's tariffs "highly likely" to reignite inflation, Fed chair Powell says
- Fed Chairman Jerome Powell warned that tariffs are "highly likely to generate at least a temporary rise in inflation" during his speech at the Economic Club of Chicago.
- Powell stated that the level of tariff increases announced is "significantly larger than anticipated," and that inflationary effects "could also be more persistent" due to the scale of these increases.
- He noted that balancing maximum employment and price stability may present a challenging scenario due to tariffs, emphasizing the difficulty of achieving long periods of strong labor market conditions without price stability.
- Powell expressed concerns that tariffs may "move us away from our goals," referring to the Federal Reserve’s dual mandate of maximum employment and price stability.
265 Articles
265 Articles
Trump’s tariff gamble backfires as Fed Chair Jerome Powell issues stark economic warning
President Donald Trump’s ongoing tariff strategy faced a serious rebuke this week, as Federal Reserve Chair Jerome Powell delivered a sober warning about the administration’s trade policies — and the economic turbulence they are fueling.Speaking Wednesday at the Economic Club of Chicago, Powell didn’t mince words. He warned that the White House’s escalating tariffs are “highly likely” to drive up inflation and slow economic growth. Financial mar…
Fed chair won’t take orders from Trump—and that’s got Trump fuming
President Donald Trump erupted at Federal Reserve Chair Jerome Powell—again—after he correctly warned that Trump’s chaotic tariffs would fuel inflation and drag down the economy. Speaking Wednesday at the Economic Club of Chicago, Powell said that the...
Fed’s Williams sees no looming need to change monetary policy – Fox Business
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of New York President John Williams said Thursday he sees no imminent need for a change in central bank interest rate policy as Trump administration tariffs are likely to drive up inflation, weaken growth and push up unemployment. “I think monetary policy is well positioned,” Williams said in an interview on television channel Fox Business. “I don’t see any need to change the setting o…
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