Fed Chair Powell says tariffs may increase inflation
Federal Reserve Chair Jerome Powell says the economy is in “good condition,” but notes inflation’s uncertainty.
The stock market rout in reaction to Trump’s sweeping tariffs announced Wednesday continued as pre-market trading opened Sunday, as the three major American indices saw futures selloff.
In the first 30 minutes of trading the Dow Jones, S&P and NASDAQ each slipped over 3.5%, with the NASDAQ leading the plunge with an over 4.5% loss − according to data from Yahoo Finance.
The futures selloff comes on the heels of an over $5 trillion loss in market value in the S&P 500 in the two trading days since Trump announced his tariffs.
Reuters reported on Sunday the European Union will likely approve a first set of targeted counter measures on up to $28 billion of U.S. imports in the coming days, following China’s salvo − announcing it will impose reciprocal 34% tariffs on all…
