Jerome Powell warns Trump tariffs could put Fed in ‘challenging scenario' as US stocks tank
1. Powell warns tariffs may prolong high inflation pressures. 2. Investors reacted negatively, S&P 500 dropped 2.2%. 3. Tariffs complicate Fed's dual mandate on inflation and growth. 4. Strong retail sales may not sustain due to tariff anticipations. 5. GDP growth expected to be hindered by rising tariffs.