🚨 JUST IN :Powell says inflationary effects of tariffs may be more persistent.

What does it mean?

Tariffs (import taxes) make foreign goods more expensive.

This can raise prices for businesses and consumers in the U.S.

He’s saying that these higher prices might not go away quickly they could stick around for a longer time than expected.

So, in simple terms: Tariffs = higher prices, and Powell is warning that these higher prices could last longer and make it harder to bring inflation down.