The Federal Reserve Chairman mentioned tariffs more than 20 times during the press conference.
The Federal Reserve Board ended its monetary policy meeting on May 7th local time, and for the third consecutive time decided to maintain interest rates unchanged. The term "tariffs" was mentioned over 20 times during Federal Reserve Chairman Powell's press conference. Powell stated that the Trump administration's new policies are still evolving, and their impact on the economy remains "highly uncertain." If the announced significant increase in tariffs continues to be implemented, it could lead to rising inflation, slowing economic growth, and increasing unemployment. He said that the impact of inflation may be temporary, but it could also be "more lasting."
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