Powell blames Trump's tariffs for U.S. inflation issues

Federal Reserve Chair Jerome Powell recently criticized former President Donald Trump for his policies, particularly tariffs, which he says have negatively impacted the U.S. economy. During a news conference, Powell discussed the need for price stability and how high inflation affects daily economic decisions. Powell explained that inflation had been steady around 2.5% for a while. However, he believes the introduction of "tariff inflation" has delayed any further progress in reducing inflation rates. He emphasized that people should not have to worry about rising prices when making business decisions. Looking ahead, Powell stated that current forecasts indicate inflation will likely remain high this year, largely due to the ongoing effects of tariffs. His comments reflect concerns about how these trade policies could hinder economic stability in the near future.