💨 Abstract

The Trump administration's new tariffs, dubbed "Liberation Day" tariffs, have led to a 34% tariff imposed by China on U.S. imports. Fed Chair Jerome Powell stated that these tariffs will likely cause higher inflation and slower growth. The Fed will focus on keeping price increases temporary, suggesting that the benchmark interest rate will remain unchanged at about 4.3% in the coming months.

Courtesy: wtop.com

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