The Federal Reserve signaled concerns over rising inflation and slower economic growth, according to Politico. Fed Chair Jerome Powell acknowledged that tariffs are a key driver of inflation. Officials predict GDP growth down in 2025 from last year and inflation rising from previous estimates. The Fed maintained interest rates but still anticipates two rate cuts this year. Powell warned inflation progress may be delayed, complicating future rate decisions. Trump's administration maintains tariffs will strengthen the U.S. economy despite concerns about potential recession risks.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Federal Reserve signaled concerns over rising inflation and slower economic growth,
00:06according to Politico.
00:07Fed Chair Jerome Powell acknowledged that tariffs are a key driver of inflation.
00:12Officials predict GDP growth down in 2025 from last year and inflation rising from
00:16previous estimates.
00:18The Fed maintained interest rates but still anticipated two rate cuts this year.
00:22Powell warned inflation progress may be delayed, complicating future rate decisions.
00:27Trump's administration maintains tariffs will strengthen the U.S. economy,
00:30despite concerns about potential recession risks.