0:00
With global shares tumbling and Wall Street experiencing crushing losses
0:06
the Federal Reserve Chairman Jerome Powell chimed in to confirm that the situation was indeed uncertain
0:12
His goal, he says, is to avoid an ongoing inflation problem. While uncertainty remains elevated, it is now becoming clear that tariff increases will be significantly larger than expected
0:22
And the same is likely to be true of the economic effects, which will include higher inflation and slower growth
0:29
The size and duration of these effects remains uncertain. His comment suggests that two days after Donald Trump's announcement on tariffs
0:37
U.S. interest rates will stay as they are. The U.S. president is urging Powell to cut rates now
0:44
He said on social media, cut interest rates, Jerome, and stop playing politics
0:50
Economists expect that Trump's tariffs will weaken the U.S. economy, possibly threaten job hiring and push up prices
0:58
J.P. Morgan has increased its forecast for the risk of a recession in the U.S. to 60 percent from 40 percent
1:05
U.S. Vice President says Americans have to be patient on the economy
1:10
We know people are struggling. We're fighting as quickly as we can to fix what was left to us
1:16
But it's not going to happen immediately. But we really do believe that if we pursue the right deregulation, we pursue those energy cost reducing policies
1:25
Yes, people are going to see it in their pocketbook. they're also going to benefit from the fact that foreign countries can't take advantage of us anymore
1:33
Scavengers have torn apart our once... The White House is gambling that other countries will suffer enough pain
1:38
that they will open up their economies to more American exports and that more companies will bring more production to the United States
1:46
In the meantime, significant parts of the global economy have been upended
