Fed Chair Jerome Powell says Trump tariffs are ‘likely to raise inflation’—and the economic hit will 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 Fed’s effective rate is currently about 4.3%, where it has stayed since December.“It feels like we don’t need to be in a hurry.

JPMorgan now predicts a 60% chance the U.S.will sink into recession this year, and called the impact of the proposed tariffs “the largest U.S.tax hike since 1968.

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Article Details

Author / Journalist: Azure Gilman

Category: EconomyBusiness

Markets: United States

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

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-04 @ 16:35:41 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 477 words

Reading Time: 3 minutes read

Sentences: 4 lines

Sentence Length: 120 words per sentence (average)

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

Copyright Owner: © Fortune

News ID: 27589816

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Official Website: fortune.com

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News Last Updated: 14 hours ago

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