Federal Reserve Chairman Jerome Powell warned Friday that Trump's strict tariffs will worsen inflation and lower economic growth. As a result, the Fed won't change interest rates until the full economic effect is clarified.

U.S. Fed Chair Jerome Powell says the Trump administration's expansive new tariffs will likely lead to higher inflation and slower growth.

Speaking at a conference on Friday, Federal Reserve Chair Jerome Powell said “it is now becoming clear that the tariff increases will be significantly larger than expected,” and the economic