#BREAKING | Federal Reserve chief says Trump tariffs likely to raise inflation and slow US economic growth

The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth, and the Federal Reserve will focus on keeping price increases temporary, Fed Chair Jerome Powell said Friday.

Powell said that the tariffs, and their impacts on the economy and inflation, are “significantly larger than expected.” He also said that the import taxes are “highly likely” to lead to “at least a temporary rise in inflation,” but added that “it is also possible that the effects could be more persistent.”

“Our obligation is to ... make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said in remarks being delivered in Arlington, Virginia.


🔗 Source: AP

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🇺🇸🇮🇷🇹🇷⚡- "Ankara is not interested in a new source of instability in the region and opposes a possible US attack on Iran," - Turkey's Ministry of Foreign Affairs.

🇪🇺 - EU markets close with -4 to -5% evolutions. Worst hit are London and Frankfurt

🇺🇸 - Worst 48 hours of Wall Street since 2008.

We have surpassed the Covid or Russo-ukrainian market dips.

🇸🇾🇹🇷🇮🇱⚡- "We do not want a Turkish buildup on our border. We hope Ankara does not seek a confrontation with us," - Reuters, citing a senior Israeli official.

🇸🇾🇹🇷🇮🇱⚡- "Israel will prevent Turkey from establishing air and naval bases in Syria. If Turkey crosses the red lines, Israel will respond," - Israeli Broadcasting Corporation.

🇺🇸🛢️⚡️- The cost of oil per barrel has fallen significantly since the start of the tariff regime on Wednesday.

🇺🇸🇾🇪⚡- "The total cost of the US military’s operation against the Iran-backed Houthi militants in Yemen is nearing $1 billion in just under three weeks, even as the attacks have had limited impact on destroying the terror group’s capabilities," - CNN.

🇺🇸⚡️- President Trump shares a message on Truth Social as the stock market continues to collapse.

🇺🇸⚡️- After today, more than $7 trillion has been deported from the market since the tariff regime began.

However the March jobs report came back much stronger than expected with over 230,000 jobs created, twice as many as predicted.

🇺🇸🇨🇳⚡️- Trump Admin and China had reached a TikTok deal on Wednesday but China reversed course as the trade war began, they are now demanding tariff negotiations before any TikTok sale can be finalized.

🇺🇸 - US markets will close with around -6% loss.

🇺🇸🇾🇪⚡- "We are preparing to introduce new weapons into the battle," - Mohammed al-Bukhaiti, Ansarullah Political Bureau Member.

🇷🇺🇺🇦⚡- Civilian death toll from a Russian ballistic missile strike on Krivoy Rog, Ukraine, yesterday has risen to 19, with dozens of others injured.

🇺🇿🇮🇱⚡- Israeli Knesset Speaker Ohana has arrived in Uzbekistan for the first time on an official visit.

Uzbekistan, under President Shavkat Mirziyoyev, despite being a Muslim-majority nation has been shifting towards strong relations with Israel, following in the footsteps of Azerbaijan and Morocco.

Amir Ohana will visit Kazakhstan on April 8.

🇺🇸🇾🇪🇦🇪⚡- "The UAE backs Washington in its campaign against the Houthis in Yemen," - The New York Times.

🇺🇸🇮🇷⚡- "Trump has made many mistakes! It's time to fire a few bullets into his empty skull to avenge the blood of martyr Soleimani and make him spit out his damn saliva," - Kayhan, far-right and considered Iran's most hard-line conservative outlet, threatens to assassinate Trump.

🇺🇸🇮🇱⚡- Israeli Prime Minister Netanyahu called Secretary of State Rubio to discuss the issues in the Middle East.

Netanyahu is expected to arrive in the US on Monday.

⚡️🇺🇸🇮🇷 Satellite imagery from early April shows the USS Wayne E. Meyer (DDG-108) patrolling northeast of Diego Garcia. The destroyer is equipped with the Aegis Baseline 9.2.1 Combat System (BMD 5.1), allowing the Arleigh Burke-class destroyer to simultaneously conduct both air and missile defence operations.

This deployment follows explicit Iranian warnings that long-range ballistic missiles and other munitions could be used against Diego Garcia in the event of U.S. strikes.

@wfwitness

🇾🇪🇮🇱⚡- "The Houthis are transferring their weapons, expanding into Africa, and approaching Israel," - Yedioth Ahronoth.