The Chairman of the Federal Reserve is holding steady and waiting to see how severe the inflation caused by Trump's failing economic policy will be. Powell also denied Donnie Two-Pencils' claim that the tariffs will not affect consumers.
The baffling economic war declared by Trump against the world has produced chaos and has primarily been seen as the United States abdicating its role as an economic power. As Trump claims victory, yet few to no actual trade deals benefiting the US have appeared, and other countries align without the United States, the Fed can not cut interest rates and offer a positive outlook.
"…Because someone has to pay for the tariffs, and it will be someone in that chain that I mentioned, between the manufacturer, the exporter, the importer, the retailer, ultimately somebody putting it into a good of some kind or just the consumer buying it," Powell said.
"All through that chain, people will be trying not to be the ones who can take up the cost, but ultimately, the cost of the tariff has to be paid. And some of it will fall on the end consumer," he continued.
NJ.com
Previously:
• Inflation rate rose sharply in January
• Trump's incoherent rambling on inflation solutions raises concerns
