Fed Chair Powell: ‘Higher Tariffs Will Be Working Their Way Through Our Economy, and Are Likely To Raise Inflation’

EXCERPT:

POWELL: “Looking ahead, higher tariffs will be working their way through our economy and are likely to raise inflation in coming quarters. Reflecting this, both survey-and market-based measures of near-term inflation expectations have moved up. By most measures, longer-term inflation expectations — those beyond the next few years — remain well anchored and consistent with our 2 percent inflation goal.”