Fed’s Powell says larger-than-expected tariffs likely to boost inflation, slow growth

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Fed’s Powell says larger-than-expected tariffs likely to boost inflation, slow growth - Malay Mail

Quick Summary:

WASHINGTON, April 5 — President Donald Trump’s new tariffs are "larger than expected,” and the economic fallout includin...

While it is unclear how it will play out, he said, “the same is likely to be true of the economic effects, which will include higher inflation and slower growth.

Retaliation by other countries like China, one of the largest US trading partners and the wellspring of many trade grievances among US politicians of both political parties, is one of the channels Fed officials have said could cause Trump’s import taxes to lead to more persistent price pressures.