During Wednesday's press briefing, Federal Reserve Chair Jerome Powell discussed the effect President Trump's tariff agenda will have on the U.S. economy.
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00:00The tariff increases announced so far
00:03have been significantly larger than anticipated.
00:06All of these policies are still evolving, however,
00:08and their effects on the economy remain highly uncertain.
00:12As economic conditions evolve, we'll continue
00:15to determine the appropriate stance of monetary policy
00:18based on the incoming data, the outlook,
00:21and the balance of risks.
00:23If the large increases in tariffs
00:25that have been announced are sustained,
00:27they're likely to generate a rise in inflation,
00:30a slowdown in economic growth,
00:32and an increase in unemployment.