Powell: Tariffs greatly exceeded expectations, and significantly increasing tariffs will lead to higher inflation and lower employment.

2025-05-07 18:46:40

On May 8, The Federal Reserve (FED) Chairman Powell stated that tariffs have been much larger than expected so far. If the announced significant increase in tariffs continues, there will be higher inflation and lower employment. Avoiding persistent inflation will depend on the scale, timing, and inflation expectations of tariffs. (Jin10)

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