Powell: Serious Inflation Risks Have Eased, Tariffs Are a One-Time Price Increase

Jinse Finance reported that Federal Reserve Chairman Jerome Powell stated on Wednesday that some of the more severe inflation scenarios facing the economy have eased. "In fact, since April, I believe the risks of higher and more persistent inflation may have diminished, partly due to a cooling labor market and slower GDP growth," Powell said at a press conference. Powell noted that tariffs are increasing price pressures, but it is becoming increasingly clear that this is more of a "one-time price increase rather than the start of an inflationary process."