Tariffs will probably worsen inflation, Federal Reserve Chairman Jerome Powell said Wednesday, echoing widespread warnings about the impact of President Donald Trump’s trade policies, and crucially indicating tariff-related price increases may complicate the Fed from pursuing further interest rate cuts.
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Read the full story on Forbes: https://www.forbes.com/sites/dereksaul/2025/04/16/trumps-tariffs-highly-likely-to-boost-inflation-says-fed-chair-powell/
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LifestyleTranscript
00:00Trump's tariffs are highly likely to boost inflation, according to the Fed.
00:04The warning came Wednesday when Chairman Jerome Powell confirmed concerns about the impact of
00:09Trump's trade policies. Quote, tariffs are highly likely to generate at least a temporary rise in
00:15inflation, Powell said. That would put the Fed in the, quote, challenging scenario in which our dual
00:21mandate goals are in tension, nodding to the yo-yo the Fed operates between ensuring stable prices
00:27and a stable labor market, which would likely face vulnerability if the U.S. enters an economic
00:33downturn amid tariff-based uncertainty. Powell signaled the central bank is prepared to take
00:40a wait-and-see approach on pursuing the interest rate cuts, which Trump has been vying for for a
00:46while. Quote, for the time being, we are well positioned to wait for a greater clarity before
00:51considering any adjustments to our policy stance. End quote. Read more at Forbes.com.