On Friday, Federal Reserve Chairman Jerome Powell warned that President Donald Trump’s tariff is likely to push inflation to the top, which reduces investor hopes that the central bank will reduce interest rates later this year.
“The high definitions will work on its way through our economy and are likely to raise inflation in the coming quarters,” said Powell, speaking in Washington, DC, at the Trade Press Conference.
He said: “It has now become clear that the increases in customs tariffs will be much greater than expected, and it is likely that the same is true in economic effects, which will include high inflation and slower growth.”
Powell stressed that the current economy is strong, strongly martyred Junction Report It was released on Friday. But he also said that the uncertainty of the comprehensive changes of the president makes consumers and companies tense and federal reserves in waiting and vision. Powell admitted that the job report data was collected before many recent events that could have great economic repercussions, such as the Declaration of Trump’s “Tahrir Day” tariff. Like the Tahrir’s “Tahrir Day” tariff, Powell confessed.
This story was originally shown on Fortune.com
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