#PowellRemarks

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

US central bank chief cites risk of persistent inflation Powell says Fed determined to keep inflation expectations anchored.

He does not mention stock market drop.

President Donald Trump new tariffs are "larger than expected," and the economic fallout including higher inflation and slower growth likely will be as well, Federal Reserve Chair Jerome Powell said on Friday, while cautioning it was still too soon to know what the right response from the central bank ought to be.

"We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation," undermining both of the Fed's mandates of 2% inflation and maximum employment, Powell told a business journalists' conference in Arlington, Virginia, in remarks that pointed to difficult decisions ahead for the U.S. central bank and did nothing to staunch a global bloodletting in stock markets.