Fed's Powell says larger-than-expected tariffs likely to boost inflation, slow growth

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U.S. Federal Reserve Chair Jerome Powell speaks at a press conference, following a two-day meeting of the Federal Open Market Committee on interest rate policy, in Washington, D.C., U.S., March 19, 2025. (photo credit: Nathan Howard/Reuters)
Powell spoke as equity markets from Tokyo to London to New York continued a swoon that has wiped some 10% off major US stock indexes since Trump announced a raft of new tariffs.

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