🚨Powell Warns: New Tariffs to Hit Economy Harder Than Expected, Risking Higher Inflation
🔸Federal Reserve Chair Jerome Powell warned that upcoming tariffs could have a much bigger economic impact than anticipated, driving up prices and slowing growth. Speaking at a business conference, he emphasized the Fed’s need to prevent these effects from fueling persistent inflation.
✴️The tariff hikes will be far larger than expected—and so will their consequences: higher inflation and weaker growth,"* Powell said. The Fed must stay vigilant to keep inflation in check.