Fed's Powell Warns: If Trump’s Tariffs Are Sustained, Inflation And Unemployment Will Likely Rise

Forbes Breaking News

During Wednesday's press briefing, Federal Reserve Chair Jerome Powell discussed the effect President Trump's tariff agenda will have on the U.S. economy.

Transcript

00:00The tariff increases announced so far

00:03have been significantly larger than anticipated.

00:06All of these policies are still evolving, however,

00:08and their effects on the economy remain highly uncertain.

00:12As economic conditions evolve, we'll continue

00:15to determine the appropriate stance of monetary policy

00:18based on the incoming data, the outlook,

00:21and the balance of risks.

00:23If the large increases in tariffs

00:25that have been announced are sustained,

00:27they're likely to generate a rise in inflation,

00:30a slowdown in economic growth,

00:32and an increase in unemployment.

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