Reported 2 days ago
Fed Chair Jerome Powell cautioned that recent tariff increases are likely to significantly boost inflation and slow economic growth. During a speech at The Economic Club of Chicago, he noted that inflation expectations are rising, and the long-term effects of tariffs may persist. He emphasized the importance of managing inflation expectations to prevent a temporary price increase from becoming a long-term issue while balancing the Fed's goals of maximum employment and price stability.
Source: YAHOO