Powell Says ‘Significantly Larger Than Expected’ Trump Tariffs Are Bringing Uncertainty to Economy

‘As the new policies and their likely economic effects become clearer, we will have a better sense of their implications for the economy and monetary policy,’ he says.

AP/Manuel Balce Ceneta
The Fed chairman, Jerome Powell, at the Society for Advancing Business Editing and Writing Annual Conference at Arlington, Virginia, April 4, 2025. AP/Manuel Balce Ceneta

The Federal Reserve chairman, Jerome Powell, warns that downside risks to the American economy and uncertainty have risen in the wake of President Trump’s tariffs because they are much larger than expected.

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