Powell: The impact of tariffs has been much greater than expected so far.

2025-05-08 04:29:22

[Powell: The Impact of Tariffs Has Been Much Greater Than Expected] Federal Reserve Chair Powell stated that survey respondents indicated tariffs are a major factor driving inflation expectations. The impact of tariffs has been much greater than expected so far. If the proposed significant increase in tariffs continues as announced, there will be higher inflation and lower employment. Avoiding sustained inflation will depend on the scale, timing, and inflation expectations of tariffs. He also mentioned that no timeline could be given for increasing tariff transparency; if tariffs remain unchanged, there will be no progress on dual mandate goals this year.

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