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[quote=Anonymous]Federal Reserve chair, Jerome Powell, weighs in on the tariffs today. Predictably, Trump posted on Truth Social telling Powell what to do (because that's how high-level discussions are conducted these days--via tweets).

Powell's comments:

Jerome H. Powell, the chair of the Federal Reserve, warned that President Trump’s tariffs risk stoking even higher inflation and slower growth than initially expected, as he struck a more downbeat tone about the outlook, despite the economy so far remaining in a “good place.”

“While uncertainty remains elevated, it is now becoming clear that the tariff increases will be significantly larger than expected,” he said. “The same is likely to be true of the economic effects, which will include higher inflation and slower growth."

Mr. Powell characterized the risks of that outcome, which he warned could include higher unemployment, as “elevated.”

“While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent,” he said in a speech at a conference in Arlington, Va., on Friday.

Trump:

Minutes before Mr. Powell’s speech, the president went on Truth Social and called on the Fed chair to lower interest rates as he attacked him for being “always ‘late.’”

https://www.nytimes.com/2025/04/04/business/economy/powell-trump-tariff-inflation-risk.html
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