Jerome Powell Warns of Inflation Threat from New Tariffs

U.S. Federal Reserve Chair Jerome Powell warned on April 16, 2025, about a potential spike in inflation due to new tariffs imposed by President Trump’s administration. His comments were made at the Economic Club of Chicago and suggest the economic impact of these tariffs will be immediate. The market reacted swiftly with cryptocurrency prices showing significant volatility, particularly Bitcoin, which saw a decline of 2.5% to settle at $83,700, and Ethereum dropped by a similar percentage to $3,050. This volatile period also prompted discussions on the regulation of stablecoins as a response to market behavior.