Reported about 17 hours ago
Federal Reserve Chair Jerome Powell expressed concerns that President Trump's hefty tariffs could lead to persistent high inflation and rising unemployment in the U.S. economy. Speaking near Washington, DC, Powell highlighted the uncertainty surrounding economic projections, especially after the recent escalation of tariffs, which could heighten inflationary pressures. The Fed is currently in a holding pattern regarding interest rates as it assesses the impacts of these policies, which have also affected consumer confidence and could potentially push the economy towards 'stagflation.'
Source: YAHOO