Watch LIVE: Federal Reserve chair gives verdict on how Trump tariffs will affect economy
Oliver O’Connell4 April 2025 16:44
Watch: GOP rep says no more cheap goods from China ‘for the children’
Oliver O’Connell4 April 2025 16:39
Fed chair says impact of tariffs could be ‘significantly larger than expected’
Speaking this morning, shortly after President Donald Trump implored him to lower interest rates, Federal Reserve Chairman Jerome Powell tells reporters that the effects of Trump’s tariffs could be “significantly larger than expected.”
He added that the tariff could have a persistent — not temporary — impact on inflation and slow economic growth.
While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.
Federal Reserve Chair Jerome Powell
Powell said that the Fed is well-positioned to wait to consider adjustments.
We are well-positioned to wait for greater clarity before considering any adjustments to our policy stance… It is too soon to say what will be the appropriate path for monetary policy.
Federal Reserve Chair Jerome Powell
Oliver O’Connell4 April 2025 16:37
Stock markets continue to fall as fears over Trump’s trade war dragging down the economy fuel sell-off
Katie Hawkinson is tracking the market.
Oliver O’Connell4 April 2025 16:32
Trump implores Fed chair to cut interest rates
President Donald Trump has implored Federal Reserve Chairman Jerome Powell to cut interest rates and “STOP PLAYING POLITICS.”
The president, who is at his golf club in West Palm Beach, wrote on Truth Social:
This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always “late,” but he could now change his image, and quickly. Energy prices are down, Interest Rates are down, Inflation is down, even Eggs are down 69%, and Jobs are UP, all within two months – A BIG WIN for America. CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!
Oliver O’Connell4 April 2025 16:19
Despite White House saying ‘no negotiations’ on tariffs, Trump appears to be negotiating
The White House continues to insist Trump’s tariffs are not about negotiation.
Someone should tell President Donald Trump, who appears to be negotiating with Vietnam.
He just posted this on Truth Social:
Just had a very productive call with To Lam, General Secretary of the Communist Party of Vietnam, who told me that Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S. I thanked him on behalf of our Country, and said I look forward to a meeting in the near future.
On Thursday, White House trade adviser Peter Navarro said: “This is not a negotiation.”
Later that evening, Trump said it was…
“Every country is calling us. That’s the beauty of what we do,” the president said. “We put ourselves in the driver’s seat. If we would have asked these countries to do us a favor, they would have said no. Now they will do anything for us.”
Trump added: “The tariffs give us great power to negotiate. They always have.”
Oliver O’Connell4 April 2025 16:07
Watch: Rubio denies economies are crashing after tariffs imposed on China
James Liddell4 April 2025 16:01
From grinning behind Trump at his inauguration to losing billions in tariffs turmoil
As of 6:30pm Eastern time, Meta stock was down 8.96 percent, Amazon was down 8.98 percent, Google had fallen 3.92 percent, while Apple had plunged over 9 percent.
White House adviser Elon Musk’s marquee companies also felt the pain, with Tesla sliding 5.47 percent and X down 8.14 percent.
Josh Marcus reports from San Francisco.
Oliver O’Connell4 April 2025 15:50
Stock markets expected to continue plunge
Friday’s stock markets are set to continue their drop in the wake of President Donald Trump’s tariff announcement – with Dow Jones futures down 1,400 points in overnight trading.
On Thursday, Wall Street saw a historically bad day with the Dow Jones having a point drop that ranked in the top 5 worst of all time. The NASDAQ saw its largest one-day point drop in that market’s history.
Investors appeared to be spooked by the impacts of Trump’s tariff and China’s retaliatory 34 percent tariffs on U.S. goods in response.
Katie Hawkinson and Alex Lang report from DC and New York City respectively.
James Liddell4 April 2025 15:40
