Fed Chair Jerome Powell did not shy away from the impact of President Trump’s tariffs during a highly anticipated press conference Wednesday.
The Federal Reserve chairman said in no uncertain terms that Trump’s trade agenda would be likely to drive up prices, even amid considerable uncertainty about exactly how much — and whether the price changes would be “transitory.”
In just one example Wednesday afternoon during a question about price stability, Powell said that inflation had previously neared the Fed’s key goal but now “I do think with the arrival of the tariff inflation, further progress may be delayed.”
Ben Werschkul | Yahoo Finance