Fed Chair Powell Links Trump’s Tariffs to Increased Inflation
Jerome Powell states that tariffs imposed by President Trump are contributing to higher overall U.S. inflation levels.
Summary
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Terms & Concepts
- Inflation: The rate at which the general level of prices for goods and services rises, eroding purchasing power.
- Tariffs: Taxes imposed on imported goods, often used to protect domestic industries or influence trade balances.
- Federal Reserve Chair: The head of the U.S. central banking system, responsible for guiding monetary policy and economic strategy.
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