On April 30, 2025, Jerome Powell, Chairman of the Federal Reserve of the United States, stated that the central bank would maintain its current policy while assessing the economic effects of the tariffs imposed by the Trump administration. Powell warned that these tariffs, broader than anticipated, could lead to higher inflation and slower economic growth. He noted that the Federal Reserve might face the challenge of balancing its dual mandate of controlling inflation and maintaining employment. Despite political pressure, he reaffirmed the independence of the body and its commitment to data-driven decisions.