Powell: Inflation caused by tariffs may be "temporary".

[Powell: Inflation Caused by Tariffs May Be "Temporary"] The Federal Reserve expects inflation this year to be higher than in December last year, partly due to the anticipated imposition of more retaliatory tariffs on U.S. trade partners next month. However, Fed Chairman Powell stated that this may be a temporary concern. Powell mentioned at a press conference that inflation caused by tariffs may be "temporary," but he also indicated that further progress in lowering inflation this year may be delayed due to tariffs.