Federal Reserve Chair Jerome Powell voiced concerns about the inflationary impact of President Trump’s tariffs during a recent speech, emphasizing their potential to exacerbate economic slowdown. The Fed maintained interest rates steady at 4.25-4.5% amidst uncertainty surrounding these tariff policies and their economic repercussions. Market volatility surged following the announcement, as analysts speculate that tariffs could further complicate the Federal Reserve’s policy direction. Global institutions like the UN are adjusting GDP forecasts in anticipation of a global impact. Powell stated: ‘President Trump’s tariffs are significantly larger than anticipated and the same is likely to be true of the economic effects, which will include higher inflation and slower growth.’