Federal Reserve Chair Jerome Powell once again confirmed the obvious—that President Trump’s impulsive tariffs and his war on Iran are responsible for skyrocketing prices. “If you look at total core inflation, it’s about 3 percent. And some big chunk of that, between a half and three quarters, is actually tariffs,” Powell said at a Wednesday press conference. Jerome Powell: "If you look at total core inflation, it's about 3%. Some big chunk of that, around 1/2 or 3/4, is actually tariffs." pic.

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