{"id":14388,"date":"2025-04-17T06:07:06","date_gmt":"2025-04-17T06:07:06","guid":{"rendered":"https:\/\/infundpros.com\/?p=14388"},"modified":"2025-04-17T06:07:06","modified_gmt":"2025-04-17T06:07:06","slug":"donald-trumps-tariffs-put-federal-reserves-jobs-and-inflation-goals-at-risk-says-jay-powell","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=14388","title":{"rendered":"Donald Trump\u2019s tariffs put Federal Reserve\u2019s jobs and inflation goals at risk, says Jay Powell"},"content":{"rendered":"<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=f0b8837a-cf49-4031-99c3-3adcb79aaeba\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Donald Trump\u2019s tariffs are \u201clikely\u201d to put at risk the Federal Reserve\u2019s goals of keeping prices and unemployment in check, chair Jay Powell warned, as he emphasised the US central bank\u2019s focus on inflation. <\/p>\n<p>The Fed chief said on Wednesday: \u201cThe [Trump] administration is implementing significant policy changes and particularly trade is now the focus. The effects of that are likely to move us away from our goals.\u201d<\/p>\n<p>While US rate setters would aim to \u201cbalance\u201d their goals of keeping inflation near 2 per cent and maximising employment, they would need to remember that \u201cwithout price stability, we cannot achieve long periods of strong labour market conditions\u201d, Powell said in remarks to the Economic Club of Chicago.<\/p>\n<p>Powell also said the president\u2019s tariffs announced so far had been \u201csignificantly larger than anticipated\u201d, adding that \u201cthe same was likely to be true of the economic effects, which will include higher inflation and slower growth\u201d. <\/p>\n<p>US stocks extended a sell-off that began earlier on Wednesday as the Fed chair spoke, with the S&amp;P 500 ending the day down 2.2 per cent. <\/p>\n<p>Asian markets were mixed on Thursday, with China\u2019s CSI 300 equities benchmark down 0.2 per cent and Japan\u2019s Topix up 1 per cent. Futures tracking the Stoxx Europe 600 were down 0.2 per cent.<\/p>\n<p>Powell said Trump\u2019s tariffs might place US rate setters \u201cin the challenging scenario in which our dual-mandate goals are in tension\u201d.<\/p>\n<p>\u201cIf that were to occur, we would consider how far the economy is from each goal, and the potentially different time horizons over which those respective gaps would be anticipated to close,\u201d Powell said. <\/p>\n<p>Several Fed officials \u2014 including John Williams, head of the New York Fed, and governor Christopher Waller \u2014 have said inflation is likely to surge in the coming months on the back of the administration\u2019s proposed tariffs. <\/p>\n<p>While Waller thinks the impact of tariffs will prove shortlived, other members of the rate-setting Federal Open Market Committee which Powell chairs believe Trump\u2019s tariffs have increased the odds that inflation will be a longer problem for US consumers.<\/p>\n<p>Trump has repeatedly called on the Fed to cut interest rates, posting on his Truth Social platform last month that officials should act as \u201cUS Tariffs start to transition (ease!) their way into the economy\u201d.<\/p>\n<p>The Fed\u2019s preferred personal consumption expenditures price index rose at an annual pace of 2.5 per cent in February, above the central bank\u2019s target. <\/p>\n<p>Recent surveys have shown that consumers and businesses are expecting strong price rises in the near future as the new taxes on imports ripple through the economy. <\/p>\n<p>The Trump administration\u2019s policies have placed the Fed in \u201cwait and see\u201d mode, after the FOMC made a series of cuts over the second half of last year. <\/p>\n<p>The US central bank has kept its benchmark federal funds target range at 4.25-4.5 per cent this year, with officials saying they are well-placed to respond once the economic data show the effects of the president\u2019s policies on American businesses and households.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/f0b8837a-cf49-4031-99c3-3adcb79aaeba\" target=\"_blank\" rel=\"noopener\" rel=\"nofollow\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":14389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-14388","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Donald Trump\u2019s tariffs put Federal Reserve\u2019s jobs and inflation goals at risk, says Jay Powell | inFundPros<\/title>\n<meta name=\"description\" content=\"Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Donald Trump\u2019s tariffs are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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