Washington D.C. - Federal Reserve Chair Jerome Powell has warned that the latest round of tariffs could pose a risk to the U.S. economy and potentially drive up prices for American consumers. In a statement released Wednesday, Powell acknowledged that the tariffs, effectively import taxes, exceeded previous expectations.
Economists are analyzing the potential impact of these tariffs on various sectors, including manufacturing, retail, and agriculture. Concerns have been raised about the possibility of retaliatory tariffs from other countries, which could further disrupt global trade and harm American businesses. The Federal Reserve is closely monitoring economic indicators to gauge the full extent of the tariffs' impact and will adjust monetary policy as needed to maintain economic stability. The central bank's actions will be critical in navigating the uncertain economic landscape created by the new trade policies. The Fed's primary goals remain promoting maximum employment and stable prices.
Fed Chair Warns Tariffs Could Hurt US Economy, Increase Prices
Federal Reserve Chair Jerome Powell expressed concerns that recently implemented tariffs could negatively impact the U.S. economy. Powell stated the tariffs, referring to import taxes, are larger than initially anticipated. He suggested these tariffs may lead to higher prices for consumers. The Fed is closely monitoring the situation to assess the potential economic consequences.
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