Fed Chair Jerome Powell said Friday he expects President Donald Trump's tariff policy to hike prices and slow economic growth, while noting that key economic indicators "still show a solid economy."

U.S. President Donald Trump wasted no time in responding to Federal Reserve Chair Jerome Powell’s warnings about the economic risks of higher inflation and slower growth due to new U.S. tariffs. In a post on Truth Social following Powell’s speech,

Fed Chair Jerome Powell warns Trump's tariffs may raise inflation, slow growth; S&P 500 falls 4% as economic outlook dims. Follow Newsweek's live blog.

Trump said in a social media post this would be the "perfect" time for the central bank to cut rates, but inflationary impact of tariffs could be an issue.

Federal Reserve Chairman Jerome Powell said Friday that he expects President Donald Trump’s tariffs to raise inflation but that the central bank won’t move to change interest rates until it has a better picture of the impact.

Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies has fallen.

The head of the Consumer Technology Association (CTA) warned that President Trump’s sweeping tariffs will “drive inflation” and “kill jobs,” risking a recession in the U.S.  Trump announced his

Investors in financial derivatives called U.S. inflation swaps are betting that President Donald Trump's tariffs will have a hefty short-term impact on consumer prices that will recede in the next few years as recession concerns escalate.