Donald Trump's Tariffs Take an Ironic Twist

Donald Trump's tariffs have helped nudge Europe's central bank into cutting interest rates further—action the U.S. president has been demanding of the Federal Reserve.

President Trump has heavily criticized the Fed for not cutting rates fast enough, even calling on its chair, Jerome Powell, to be fired.

Yet Powell on Wednesday suggested the Fed will go slowly in part because of uncertainty around Trump's tariffs, saying: "Unemployment is likely to go up as the economy slows, in all likelihood, and inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public. So that'...
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