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From the Liveblog of
Friday, April 4, 2025
From the Liveblog of
Friday, April 4, 2025
Trump tariffs likely to cause higher inflation, slower growth — US fed chair
Add ToI as a Preferred Source on GoogleThe tariffs introduced by US President Donald Trump have increased the risk of higher unemployment and will likely cause higher inflation and slower growth, Federal Reserve Chair Jerome Powell says.
“It is now becoming clear that the tariff increases will be significantly larger than expected,” Powell tells an event in Virginia in prepared remarks.
“The same is likely to be true of the economic effects, which will include higher inflation and slower growth,” he says, adding that it was “too soon” to consider making changes to US monetary policy.
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