US Federal Reserve Chairman Jerome Powell said on Wednesday, June 18, that inflation in the United States is slightly above the target level.

Powell added during a press conference following the Federal Reserve's meeting on monetary policy that tariffs are one of the factors that have raised near-term inflation expectations.

He noted that the effects of tariffs that President Donald Trump may impose in the coming period will depend on their level, and that the increases this year are likely to negatively impact economic activity and raise inflation.