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<blockquote data-quote="Box Ox" data-source="post: 6096560" data-attributes="member: 48469">CNN&#039;s live feed:<h2>Jerome Powell warns on Trump’s tariffs: High inflation could be here to stay</h2>&quot;Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday.“We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation,” he said in prepared remarks at an event in Arlington, Virginia. “While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.”Powell’s latest comments, his most vivid yet on the subject, come just days after the Trump administration unveiled <a href="https://www.cnn.com/2025/04/02/economy/key-takeaways-from-trumps-liberation-day-tariffs/index.html" target="_blank">the sharpest ever escalation in US tariffs</a> on data going back 200 years, Fitch Ratings told CNN. The measures are even steeper than the expansive tariffs deployed under the Smoot-Hawley Act of 1930.A 10% tariff on all US imports will go into effect Saturday, with even higher tariffs slated for April 9.The Fed chief said the central bank’s best move amid Trump’s chaos is to keep rates on hold for longer. Fed officials convene again to set interest rate policy on May 6 and 7.&quot;</blockquote>

[QUOTE="Box Ox, post: 6096560, member: 48469"] CNN's live feed: [HEADING=1][SIZE=5]Jerome Powell warns on Trump’s tariffs: High inflation could be here to stay[/SIZE][/HEADING] "Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday. “We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation,” he said in prepared remarks at an event in Arlington, Virginia. “While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.” Powell’s latest comments, his most vivid yet on the subject, come just days after the Trump administration unveiled [URL='https://www.cnn.com/2025/04/02/economy/key-takeaways-from-trumps-liberation-day-tariffs/index.html']the sharpest ever escalation in US tariffs[/URL] on data going back 200 years, Fitch Ratings told CNN. The measures are even steeper than the expansive tariffs deployed under the Smoot-Hawley Act of 1930. A 10% tariff on all US imports will go into effect Saturday, with even higher tariffs slated for April 9. The Fed chief said the central bank’s best move amid Trump’s chaos is to keep rates on hold for longer. Fed officials convene again to set interest rate policy on May 6 and 7." [/QUOTE]

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