Powell: Expect tariff-driven inflation to rise in coming months

Federal Reserve chairperson Jerome Powell told a news conference that Fed policymakers expected inflation in commodity prices to rise over the summer as Mr. Trump's tariffs hit US consumers. He noted that the impact of tariffs on the chain of goods would take time, with many retailers currently selling goods that had been imported months before the tariffs took effect. "So we're starting to see some impact, and we expect to see more of that over the next few months," Mr. Powell said. "We've certainly seen some price increases in certain related categories as well, such as PCs, things like audio-visual equipment, which can be attributed to the tariff increase."