Federal Reserve Chair Says Trump Tariffs Are "Highly Likely" to Raise Inflation

The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday.
In his prepared remarks, Powell reiterated that the Trump administration's tariffs are “significantly larger than anticipated."
“The same is likely to be true of the economic effects, which will include higher inflation and slower growth,” he said.

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