Chair Powell: "Concerns that tariff increases could spur inflation... High uncertainty in FOMC forecasts"
JH Kim
Summary
- Jerome Powell, Chair of the Fed, stated that this year's tariff increases could dampen economic activity and may spur inflation.
- He reported that there is considerable uncertainty contained within the current FOMC economic outlook.
- Chair Powell explained that the Fed's published forecasts are not concrete policy plans, but rather simple scenarios.
According to CNBC on the 18th (local time), Jerome Powell, Chair of the Fed, stated, "The impact of tariff policy will vary depending on the level applied, but this year's tariff increases could dampen economic activity and may spur inflation."
He continued, "Currently, the FOMC's economic outlook entails considerable uncertainty, which is unusually high," and explained, "The forecasts we publish are not policy plans, but simply scenarios."
JH Kim
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