Powell: Tariffs continue to raise expectations of rising inflation & decreasing employment

Jerome Powell, Chairman of the Federal Reserve, has said that tariffs have been identified as the main factor in raising expectations of inflation and unemployment, given that tariffs were much larger than previously expected. He suggested that the uncertainty in the economic outlook has expanded further. GDP and many other data have been greatly shaken by tariffs and trade policies, Powell asserted, adding that it is not yet known what the future impact of this economic uncertainty caused by these policies will be.