Fed chair warns tariffs could drive up prices
Federal Reserve Chair Jerome Powell warned President Trump's trade war could drive up inflation while at the same time causing growth to slow and unemployment to rise. CBS News' Nancy Cordes has more.
Jerome Powell
Trump tariffs prompt warning from Fed chair
President Trump lashed out at Federal Reserve Chair Jerome Powell who warned that the administration's tariff plan could lead to persistent inflation and an economic slowdown. California Gov. Gavin Newsom also announced plans for the state to file a lawsuit challenging the tariffs. CBS News chief White House correspondent Nancy Cordes has the latest updates.
Trump slams Fed's Powell after tariff warning
President Trump slammed Jerome Powell on Thursday morning, a day after the Federal Reserve chairman said the Trump administration's tariff policy could lead to higher inflation and slower economic growth. CBS News' Natalie Brand has more on Mr. Trump's response.
Fed's Powell says tariffs could lead to inflation, economic slowdown
Federal Reserve Chair Jerome Powell said in a speech today that President Trump's tariffs are likely to boost U.S. inflation.
Powell's comments spark stock market sell-off
It was another volatile day on Wall Street after comments from Federal Reserve Chair Jerome Powell, who spoke at the Economic Club of Chicago. Kelly O'Grady explains.
Economists: Consumers trying to beat tariffs
Federal Reserve Chair Jerome Powell has issued a stark warning on the far-reaching inflation impact of the Trump administration's economic policies. His comments come as new Commerce Department data shows that retail sales rose more than expected last month with some economists attributing that to people trying to get ahead of tariff-driven price increases. CBS News MoneyWatch correspondent Kelly O'Grady breaks it down.
Fed chair warns tariffs could cause inflation
Stocks fell sharply on Wednesday due in part to tariff concerns. CBS News MoneyWatch correspondent Kelly O'Grady breaks down Federal Reserve Chair Jerome Powell's warning about tariffs.
Stock market down amid fresh tariff fears
Wall Street saw a sea of red on Wednesday as Federal Reserve Chair Jerome Powell said tariffs came in larger than expected, which will lead to "at least a temporary rise" in inflation. CBS News MoneyWatch correspondent Kelly O'Grady has the biggest takeaways.
Powell on higher inflation, slower growth
Federal Reserve Chair Jerome Powell said higher inflation and slower growth are more likely as more details emerge about President Trump's tariffs. CBS News contributor Javier E. David has more.
Trump calls for Powell to cut rates
President Trump and Federal Reserve Chair Jerome Powell are commenting on what they think is the future of U.S. economic growth. This comes as the world reacts to Mr. Trump's tariffs announcement. Isabel Wang, a reporter at MarketWatch, joins CBS News with more.
Federal Reserve holds interest rates steady, but trims growth outlook
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
Fed Chair on consumer sentiment
As expected, the Federal Reserve has held interest rates steady, while indicating that cuts are likely later this year. CBS News MoneyWatch correspondent Kelly O'Grady reports.
Fed leaves rates unchanged, outlook uncertain
The Federal Reserve chose not to lower interest rates Wednesday, as Chair Jerome Powell admitted the economic outlook was uncertain. He indicated that even though inflation was expected to inch up in response to President Trump's tariffs, the Fed is still forecasting two rate cuts this year. Kelly O'Grady explains.
Powell paints picture of economic uncertainty
The Federal Reserve left interest rates unchanged Wednesday as uncertainty about the U.S. economy grows. CBS News MoneyWatch correspondent Kelly O'Grady unpacks Fed Chair Jerome Powell's comments on the decision. Then, Donna Ginther, distinguished professor of economics at the University of Kansas, joins with analysis.
Powell: Tariffs may delay inflation progress
The Federal Reserve left its benchmark interest rate unchanged on Wednesday, with Chair Jerome Powell saying "further progress may be delayed" on bringing down inflation because of President Trump's tariffs. CBS News business analyst Jill Schlesinger has more.
Stocks drift higher as investors await Fed decision on interest rates
Federal Reserve Chairman Jerome Powell's face tough challenge — offering anchor to investors in a sea of uncertainty.
Fed expected to keep interest rates the same
The Federal Reserve will meet Wednesday to make its second interest rate decision of the year with economists predicting rates will be held steady. CBS News business analyst Jill Schlesinger has more.
Fed Chair Powell says interest rates on hold amid economic uncertainty
Powell says the Fed is in no hurry to change course, citing "uncertainty" over the impact of the Trump administration economic policies
How Powell testified on Capitol Hill
Federal Reserve Chair Jerome Powell took questions from lawmakers on Capitol Hill and was grilled about Elon Musk's Department of Government Efficiency (DOGE) accessing the personal information of Americans. CBS News contributor Javier David has more.
Fed Chair Powell testifying before Congress
Federal Reserve chair Jerome Powell is testifying in front of lawmakers Tuesday where he's expected to face questions ranging from rate policies to the department's independence from President Trump. CBS News contributor J.D. Durkin has more.
U.S. economy grows 2.3% in last quarter, latest GDP data shows
Economy showed solid fourth-quarter growth, though roughly a percentage point below economist expectations.
Trump criticizes the Fed
After three consecutive interest rate cuts, the Federal Reserve has decided to hit the pause button, citing a solid job market and stubborn inflation. CBS News MoneyWatch correspondent Kelly O'Grady has more on the decision and President Trump's reaction.
Fed expected to leave rates unchanged
The Federal Reserve on Wednesday will make its first interest rate decision of the second Trump administration with economists predicting rates will remain unchanged. CBS News business analyst Jill Schlesinger has more.
Trump to inherit 5-month high inflation rate
President-elect Donald Trump is set to inherit inflation at a 5-month high. According to the Labor Department, consumer prices rose 2.9% year-over-year and 0.4% month-over-month in December, the largest gains in overall prices in months. CBS News MoneyWatch correspondent Kelly O'Grady joins "America Decides" to break down the new numbers.
Dow plunges after Powell's comments on rate cuts
The Dow Jones Industrial Average fell more than 1,100 points Wednesday. Earlier in the day, the Federal Reserve lowered its benchmark rate a quarter-point. However, the precipitous drop in stock markets came after Federal Reserve Chairman Jerome Powell's remarks that the Fed may not slash rates in 2025 as much as had initially been projected. Kelly O'Grady explains.
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