Fed President warned that the tariffs were significantly higher than they thought [Video]

Yesterday was yet another ugly day of trading, especially for the US and the technology companies. The Federal Reserve (Fed) President warned that the tariffs were significantly higher than they thought, that they could soften employment and boost inflation, that inflation could stick around longer than they thought, that they don’t know how long the impacts will flow through the economy and how they will impact the long-term inflation expectations. He added that they can’t achieve long-term strong growth and employment if they don’t achieve price stability first. In simple words, Powell said inflation is their priority and that the best thing to do it to wait before cutting rates.

Across the pond, the European Central Bank (ECB) is expected to cut its rates by 25bp before the Easter break!