April 2025, Jerome Powell, the Chairman of the Federal Reserve, stated that new trade policies could lead to an economic slowdown and rising inflation, threatening a "stagflation" scenario. He confirmed that the Fed would not rush to cut interest rates but would wait to see a clearer impact of these policies. His statements caused markets to decline, with the S&P 500 dropping by 2.2% and Nasdaq by 3.1%. These remarks reflect growing concerns among investors about the future of the U.S. economy amid an environment of uncertainty and escalating trade tensions.