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"Looking ahead, higher #tariffs will be working their way through our #economy & are likely to raise #inflation in coming quarters," #JeromePowell said.

"While #uncertainty remains elevated, it is now becoming clear that tariff increases will be significantly larger than expected, & the same is likely to be true of the economic effects, which will include higher inflation & slower growth."

US #Stock indexes extend losses after #FederalReserve chair Powell remarks were released.