Fed's Powell: Tariffs larger even than in Fed's upside estimates

ReutersApr 16, 2025 5:54 PM

April 16 (Reuters) - The tariffs rolled out by President Donald Trump were larger than even the highest estimates prepared by the Federal Reserve ahead of time, Fed Chair Jerome Powell said on Wednesday.

"The tariffs are larger than forecasters had expected, certainly larger than we expected, even in our upside case," Powell said in response to a question at an event at the Economic Club of Chicago.

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