#PowellRemarks

In a tense press conference in Washington, Federal Reserve Chair Jerome Powell didn’t hold back: Trump's tariffs are *already* raising prices — and it’s only the beginning.

Powell warned that US consumers will be the ones to absorb the hit, as businesses across the supply chain scramble to dodge the cost. The inflation pressure is building fast, and Powell pointed the finger squarely at tariffs.

“We’re beginning to see some effects,” he said, adding that tariffs take time to filter through the economy. But make no mistake — they *will* hit wallets. From the manufacturer to the importer to the retailer, nobody wants to pay. But someone will. And that someone is likely you, the consumer.

Even with inflation creeping up, the Fed held interest rates steady at 4.25%-4.5%. They're still penciling in two cuts for 2025, but Powell was crystal clear: the dot plot is not a promise. It’s guesswork.