Fed Chair Jerome Powell says Trump tariffs are ‘likely to raise inflation’ and the economic effects could be ‘significantly larger’ than expected

Quick Summary:

"Higher inflation and slower growth" are likely to be here a while, the Fed chair said Friday.

The data from the jobs report was collected before several recent events that could have major economic repercussions, like Trump’s “Liberation Day” tariffs announcement, Powell acknowledged. like Trump’s "Liberation Day" tariffs announcement, Powell acknowledged.

But he also said that the uncertainty from the president’s sweeping policy changes is making consumers and businesses nervous and putting the Fed into wait-and-see mode.

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Article Details

Author / Journalist: Azure Gilman

Category: EconomyBusiness

Markets: United States

Topics: Jerome powell Federal Reserve Interest Rates Tariffs and trade Tariffs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-04 @ 16:35:41 (1 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 175 words

Reading Time: 1 minutes read

Sentences: 4 lines

Sentence Length: 44 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27588130

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Official Website: fortune.com

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