Powell Warns Inflation to Worsen, Tariffs Impact Fed Decisions

Federal Reserve Chair Jerome Powell warns of worsening inflation, attributing it to ongoing tariff impacts. He suggests interest rates may remain elevated longer than expected, potentially slowing economic growth. Despite projections of inflation falling to 2.4% by 2026, Powell cautions that inflation could rise before then. The Feds dual mandate of low inflation and strong job market remains uncertain, with interest rate decisions hinging on upcoming economic data.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.