#CNBC Powell: Effects of tariffs on consumer prices now ‘clearly visible’
Powell: Effects of tariffs on consumer prices now ‘clearly visible’
Federal Reserve Chairman Jerome Powell on Friday said that the effects of tariffs on consumer prices are now “clearly visible” and will continue to accumulate over the coming months.
“The question that matters for monetary policy is whether these price increases are likely to materially raise the risk of an ongoing inflation problem,” Powell said.
While he noted that the labor market remains in good shape and the economy has shown “resilience,” he said downside dangers are rising.
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