In a recent conference, Federal Reserve Chairman Jerome Powell addressed the economic implications of President Trump's tariffs, highlighting that they are expected to increase consumer prices. Although the Fed decided to keep interest rates unchanged, this decision could face criticism from Trump, who has called for rate cuts to mitigate inflation. Powell detailed the uncertainty surrounding the economic effects of trade, immigration, and fiscal policies, pointing to potential short-lived inflationary pressure from the tariffs, although the long-term effects remain unclear.
Federal Reserve Chairman Jerome Powell emphasized that President Trump's tariffs will lead to higher prices for consumers, complicating the economic outlook.
Powell indicated that while the tariffs might only temporarily boost inflation, their ultimate impact on economic activity remains uncertain.
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