Powell: If we make a mistake, 'people will pay the cost for a long time'

Federal Reserve Chair Jerome Powell on Wednesday emphasized the central bank’s commitment to keeping inflation in check, saying he expects policymakers to stay on hold until they have a better handle on the impact tariffs will have on prices. He noted that inflation is still above the Fed’s 2% target, with the impact that President Donald Trump’s tariffs will have still unclear. The cautious tones could further antagonize Trump, who has ramped up his long-standing criticism of Powell. ...