Powell: Tariff-Driven Inflation Expected to Rise in Coming Months

BlockBeats News, on June 19, Federal Reserve Chairman Jerome Powell stated during a press conference that Fed policymakers expect inflation in goods prices to rise during the summer as tariffs imposed by the Trump administration start affecting U.S. consumers. He noted that the impact of tariffs on the supply chain takes time, and many of the goods currently sold by retailers were imported months before the tariffs took effect. Powell said, "So we are starting to see some effects, and we expect to see more of such effects in the coming months. We have indeed observed price increases in certain categories of goods, such as personal computers and audiovisual equipment, which can be attributed to the tariff hikes." (Jin10)