Federal Reserve Chair Jerome Powell said President Donald Trump’s tariffs are making some products more expensive for American consumers.
Speaking at a recent economic conference, Powell explained that tariffs placed on imported goods, including steel, aluminum, and items from China, are driving up prices. These cost increases affect both businesses and everyday shoppers.
Powell noted that while the U.S. economy is still strong, rising prices from tariffs could create problems in the future. He warned that continued price hikes might slow down economic growth and add pressure to inflation.
Economists are divided on the issue. Some believe tariffs help protect American jobs by making foreign goods more expensive. Others say tariffs do more harm than good by raising costs for consumers and businesses.
Powell did not support either side but said it’s important to keep a close watch on inflation and how tariffs may affect it in the coming months.
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