03/08/2025

Tariffs Will Likely Raise Prices for U.S. Consumers, Fed Chair Says

The scale and duration of the tariffs remain unclear

Fed Chair Jerome Powell said on Friday that the Trump administration's tariffs would likely raise prices for U.S. shoppers and retailers.

The scale and duration of the tariffs remain unclear but a portion of the taxes on imports will probably reach consumers, Powell told an economic forum in New York City on Friday.

"We're at a stage where we're still very uncertain about what will be tariffed, for how long, at what level," Powell said. "But the likelihood is some of that will find its way. It will hit the exporters, the importers, the retailers and to some extent consumers."

Please select this link to read the complete article from ABC News.