Powell "Tariff increases could spread into sustained price increases"

On the 14th (local time), according to economic news channel Walter Bloomberg, Jerome Powell, chair of the U.S. Federal Reserve (Fed), said in a speech in Philadelphia to the National Association for Business Economics (NABE), "If the pass-through of higher tariffs to prices slows, there is a risk it will appear as sustained inflation rather than a temporary rise." Powell added, "The Fed is closely monitoring the potential effects that tariff increases may have on the inflation path," and "We will carefully consider these factors when making policy decisions."