Powell Warns Trump’s Tariffs Risk Stoking Even Higher Inflation and Slower Growth

Jerome H. Powell, chair of the Federal Reserve, says the central bank’s “obligation” is to ensure that a “one-time increase in the price level does not become an ongoing inflation problem.”Federal Reserve officials, led by Jerome H. Powell, are confronting a thorny set of issues that have upended expectations about when they may be able to lower interest rates again.