The Fed’s slowness to catch the inflation surge that began during the pandemic has earned it scads of criticism. Is this time different?

Fresh off the Federal Reserve’s new economic projections showing officials expect higher inflation and slower growth this year, Chair Jerome Powell said Wednesday it’s his “base case” that any bump in price-growth due to President Donald Trump’s tariffs policy would prove transitory.

Federal Reserve Chairman Jerome Powell said Wednesday that inflation driven by President Donald Trump’s tariff agenda could make it more difficult to achieve the Fed’s goal of lowering inflation. Powell,

Chair Jerome Powell said Fed forecasts for 2025 trimmed growth estimates, nudged unemployment up, and lifted inflation expectations as Trump tariffs show ripple effects.

Federal Reserve Chair Jerome Powell warns that President Donald Trump’s tariffs could slow progress in the fight against inflation and high consumer prices, while announcing a decision to leave key interest rates unchanged.