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Powell: Tariffs 'highly likely' to increase inflation

Federal Reserve Chair Jerome Powell said that President Donald Trump's global tariffs are likely to cause a short-term increase in inflation. Powell said that the scope of Trump's tariffs are "significantly larger than expected," but emphasized that the central bank will work to prevent any price spikes caused by the tariffs from becoming an "ongoing inflation problem."

00:55 - Source: CNN
Tariffs and trade 17 videos
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Powell: Tariffs 'highly likely' to increase inflation
00:55
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Trump calls Xi’s tour of Southeast Asia a chance to ‘screw’ the US
00:47
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'I'm very optimistic': Steel company owner tells CNN tariffs will help them
03:28
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Elizabeth Warren explains why she called on the SEC to investigate Trump
03:59
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‘Big Short’ investor says US is better equipped to handle trade war with China
01:05
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Trump voter to be affected by tariffs has a message for the president
01:01
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Kevin O'Leary says US has to train China 'like a puppy'
01:57
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Peter Navarro brushes off concerns over market whiplash as 'pure spin'
03:00
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Canadian official says what it will take for them to drop their tariffs 'tomorrow'
01:43
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'The worst self-inflicted wound': Former treasury secretary blasts Trump's trade war
03:13
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Small business owner says tariffs pause was the 'final nail in the coffin'
02:16
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Economist's recession warning: 'Someone's going to need to blink'
01:34
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Erin Burnett breaks out whiteboard to explain Trump’s tariff math
03:26
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How much more sneakers would cost if made in the US
00:26
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John Bolton: Trump's tariffs are a huge opportunity for China
01:13
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‘Definition of stupid’: Scott Galloway on tariff damage
02:46
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Traders work on the floor of the New York Stock Exchange during morning trading on April 07, 2025 in New York City. All three major stock indexes dipped again at the opening of the stock market for the third straight day with the Dow Jones dropping over 1000 points and the S & P 500 nearing bear market territory amid U.S. President Donald Trump's sweeping new tariffs and other countries' retaliations.
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Retiring in this market? Hear a financial planner's top three tips
01:24
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