WASHINGTON: Federal Reserve Chair Jerome Powell said on Wednesday goods price inflation will pick up over the course of the summer as President Donald Trump's tariffs work their way to U.S. consumers, who he argued would bear some of those costs.
"Ultimately, the cost of the tariff has to be paid, and some of it will fall on the end consumer," Powell told a news conference after the Fed again held rates steady. "We know that because that's what businesses say. That's what the data say from the past."
