Economic Policies

Tariffs Could Cause Inflation to Persist, Weigh on US Growth, Says Fed Chair Powell

Trump encouraged Powell to cut interest rates, citing lower inflation levels and solid employment gains.
Tariffs Could Cause Inflation to Persist, Weigh on US Growth, Says Fed Chair Powell
Federal Reserve Chairman Jerome Powell speaks during a Society for Advancing Business Editing and Writing Annual Conference in Arlington, Va., on April 4, 2025. Anna Moneymaker/Getty Images
Andrew Moran
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President Donald Trump’s sweeping tariffs could lead to persistent inflation and slower economic growth, Federal Reserve Chair Jerome Powell said on April 4.

The White House recently unveiled its sweeping trade agenda, revealing 10 percent baseline universal tariffs and higher reciprocal levies on advanced and developing economies.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."