Powell: Inflation caused by tariffs may be 'temporary'

The Federal Reserve expects inflation to be higher this year than in December last year, partly due to the expectation of imposing more retaliatory tariffs on US trading partners next month. But Federal Reserve Chairman Powell said that this may be a temporary concern. Powell stated at a press conference that the inflation caused by tariffs may be "temporary," but he also noted that further progress in reducing inflation this year may be delayed due to tariffs.