U.S. Federal Reserve Chair Jerome Powell said on Wednesday that President Donald Trump's tariff increases would delay progress in bringing down inflation this year, but the Fed's base case is that tariff-related price impacts will be transitory,

With the arrival of the tariff inflation, further progress may be delayed,” Powell said. "[The forecast] “doesn’t really show further downward progress on inflation this

Federal Reserve Chair Jerome Powell fields questions from reporters after the Central Bank announced its decision to leave interest rates unchanged.