Elizabeth Warren Says Jerome Powell Is 'Right,' Blames Trump's 'Chaotic Tariff Policies' For Surging Prices

Core Viewpoint - Senator Elizabeth Warren attributes the rising goods prices in the U.S. to President Donald Trump's trade and tariff policies, emphasizing that these policies have led to significant inflationary pressures [1][2]. Group 1: Inflation Data - Prices have increased by 2.9% year-over-year, with a notable rise compared to the previous year, which Warren links directly to Trump's tariff policies [2]. - The core personal consumption expenditure (PCE) inflation rate was reported at 0.3% for the last month, indicating a discrepancy in the interpretation of inflation data [3]. Group 2: Economic Analysis - According to Apollo Global's chief economist, 72% of items in the Consumer Price Index are rising faster than the Federal Reserve's 2% inflation target, marking the highest level in three years, up from 55% a year ago, with tariffs identified as a primary cause [4]. - Economists like Justin Wolfers from the University of Michigan support Warren's stance, noting that inflationary pressures amid rising unemployment complicate the Federal Reserve's position, largely due to tariffs [5].