Powell: Trump's tariff increase far exceeds Federal Reserve's expectations

According to a report by Golden Finance, on April 4th local time, Federal Reserve Chairman Powell expressed shock at the scope of tariffs imposed by US President Trump, which means that the impact of tariffs on the economy will be greater than previously thought. Powell said that the increase in tariffs will clearly exceed expectations, and the economic impact may also be the same, including rising inflation and slowing economic growth. The scale and duration of these impacts are still uncertain. It is reported that Powell previously stated that the inflationary effect of tariffs is likely to be "temporary". Powell is unwilling to disclose whether he believes the US economy is heading towards a recession, but he acknowledges that the uncertainty of trade policies is putting pressure on businesses, and an increasing number of predictions indicate that the risk of economic recession is rising. Powell stated that he plans to complete his entire term. Powell's term ends in May 2026.