According to Odaily, Federal Reserve Chair Jerome Powell is set to deliver a public speech tonight, providing an opportunity to assess the economic impact of U.S. President Donald Trump's imposition of high tariffs on major trade partners. While these policy changes have occurred rapidly, their effects are not yet evident beyond the daily fluctuations in stock, bond, and foreign exchange markets. However, collectively, they have reignited discussions among forecasters about the risk of 'stagflation.' Adam Posen, Director of the Peterson Institute for International Economics in Washington, stated that while the Federal Reserve is not responsible for setting trade or tax policies, it should clearly indicate that, based on all existing mainstream evidence, tariffs are more likely to lead to increased inflation. At the time of Trump's tariff implementation, inflation levels were not low.