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Fed's Powell says larger-than-expected tariffs mean higher inflation, slower growth

WASHINGTON (Reuters) -President Donald Trump's new tariffs are "larger than expected" and the economic fallout including higher inflation and slower growth likely will be as well, Federal Reserve Chair Jerome Powell said on Friday in remarks that pointed to the potentially difficult set of decisions ahead for the central bank. "We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation," undermining both of the Fed's mandates of 2% inflation and maximum employment, Powell said in prepared remarks for a business journalists' conference in Arlington, Virginia. Powell spoke as global markets continued a swoon that has wiped some 10% off major U.S. stock indexes since Trump announced a raft of new tariffs on Wednesday.

3 Important Numbers to Know for Bitcoin Investors

As a Bitcoin (CRYPTO: BTC) investor, it can be confusing to make sense of all the information out there. A lot of very smart people on Wall Street think that Bitcoin is going to hit a price of $1 million by the year 2030. Cathie Wood of Ark Invest, for example, recently doubled down on her prediction that Bitcoin is going to hit $1.5 million within the next five years.

3 Reasons to Sell PLCE and 1 Stock to Buy Instead

Children's Place’s stock price has taken a beating over the past six months, shedding 46.9% of its value and falling to $7.97 per share. This was partly due to its softer quarterly results and might have investors contemplating their next move.

3 Reasons AVTR is Risky and 1 Stock to Buy Instead

Shareholders of Avantor would probably like to forget the past six months even happened. The stock dropped 38.1% and now trades at $15.67. This was partly due to its softer quarterly results and might have investors contemplating their next move.