Federal Reserve Chair Jerome Powell on Friday appeared to back away from a “base case” view that inflation from President Trump’s new tariffs could be transitory, saying that “it is also possible that the effects could be more persistent” as the economy digests “significantly larger-than-expected” trade duties. Trump, at the same time, turned up the pressure on Powell, calling on him to lower rates. “This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image,…
Read MoreUS Federal Reserve Chair Jerome Powell Says Inflation May Last Longer With Tariffs
