Mr. Trump has said the two new tariffs he unveiled Wednesday — a 10% universal duty on all U.S. imports and so-called reciprocal tariffs applied to imports from about 90 nations — will revitalize American manufacturing, create jobs and generate federal revenue.

Key Takeaways Federal Reserve Chair Jerome Powell said President Donald Trump's larger-than-expected tariffs could stoke inflation and slow economic growth.The Fed is tasked with keeping inflation low and jobs plentiful,

The consumer is in precarious shape ahead of the April 2 tariff date, and any further souring of sentiment could heighten risks to markets.

Federal Reserve Chair Jerome Powell said Friday that the size and potential economic harm of President Trump’s new tariffs were far larger than anticipated, raising new challenges as the bank attempts to end its inflation fight.

U.S. Federal Reserve officials who've said they needed more details before estimating the economic impact of President Donald Trump's trade plans got perhaps more than they bargained for on Wednesday when he unveiled sweeping tariffs analysts say could dramatically reshuffle the country's economic outlook.

The steepest tariff rollout in a century just handed the stock market its worst day since 2020. President Trump’s trade agenda erased $3 trillion in market value Thursday as investors raced to reprice risk. The S&P 500 fell 4.8 percent and the tech-heavy Nasdaq dropped nearly 6 percent.

Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday.

Speaking at a conference on Friday, Federal Reserve Chair Jerome Powell said “it is now becoming clear that the tariff increases will be significantly larger than expected,” and the economic

Rapid price increases would make it hard to the Fed to address slow growth with the usual medicine: raising interest rates.