New Federal Reserve Chairman Jerome Powell told business leaders in Chicago on Friday that “it’s too early to say” whether a brewing trade war with China would affect monetary policy and the broader economy.
But he acknowledged increased concerns about international trade policy and warned that escalating tariffs could boost inflation.
“Tariffs can push up on prices,” Powell said during a brief question-and-answer session following his address to the Economic Club of Chicago. “But it’s too early to say whether that’s going to be something that happens.”
Powell stuck to a more reassuring script during his prepared remarks — his first public speech since assuming the...