$BNB
*US Federal Reserve Chair Jerome Powell's Stark Warning: Tariffs Could Spark Economic Turmoil* 🚨
The total tariff rate on China will rise to 54% 🇨🇳, while the European Union will face a 20% rate 🇪🇺, Japan 24% 🇯🇵, India 26% 🇮🇳, South Korea 25% 🇰🇷, Taiwan 32% 🇹🇼, Thailand 36% 🇹🇭, and Vietnam 46% 🇻🇳.
China's Retaliation
China has announced an additional 34% tax on goods imported from the US 🇺🇸, escalating the global trade war 🌪️.
Economic Impact
Powell believes the tariffs may lead to structural consequences that could slow down economic growth 📉, emphasizing the Fed's responsibility to maintain long-term price stability 💸.
What's Next?
The Federal Reserve is expected to keep interest rates unchanged in the short term 📊 but may consider rate cuts later in 2025, depending on inflation and labor market data 📈. Some experts predict a 25-basis-point cut in June, while others suggest the Fed may not make any moves at all due to the tariffs' impact on inflation 🤔.
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