Powell: Tariffs Have Boosted Some Prices

BlockBeats News, July 31, Federal Reserve Chair Powell stated that the year-over-year June core personal consumption expenditures (PCE) inflation rate may be 2.7%. Although inflation has eased compared to 2022, it remains elevated. Most long-term inflation expectations indicators are in line with the Fed's target.

Tariffs have raised prices of some goods. Inflation may be transitory or could be more persistent. (FX678)