The US Federal Reserve Chair Jerome Powell has warned of higher inflation, saying policy changes under the Trump administration have put the Fed in uncharted territory. In a speech in Chicago, Powell noted that the level of the tariff increases announced by the Trump administration so far is significantly larger than anticipated and the lingering uncertainty around the issue could inflict lasting economic damage. Powell noted inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public.

Powered by Commodity Insights