#PowellRemarks
Federal Reserve Chair Jerome Powell issued a warning!
🗣️ Powell says the new tariffs proposed by former President Donald Trump could have severe consequences:
1️⃣ Rising inflation 📈
2️⃣ Slowing economic growth 🐢
What does that mean?
Trump's idea of raising tariffs (i.e., taxes on imported goods) may seem like a way to protect American companies 🇺🇸, but Powell warns that it could increase the cost of everyday goods 🛒💸 - and that is inflation.
And when prices rise excessively, people spend less, companies pull back, and the entire economy collapses.