Fed's Powell said the economy is in "good place," and officials must keep inflation controlled. His remarks suggest the possibility of fewer rate cuts

Federal Reserve Chairman Jerome Powell warned Friday that Trump's strict tariffs will worsen inflation and lower economic growth. As a result, the Fed won't change interest rates for now.

Inflation is likely to pick up because of President Donald Trump’s sweeping tariffs, and could remain elevated, Federal Reserve Chair Jerome Powell said Friday. “We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation,

US stocks were battered by a sell-off Friday after China retaliated against the United States for President Donald Trump’s tariffs in a tit-for-tat that escalates a global trade war.

President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth.

President Donald Trump's punishing tariffs rocked global financial markets on Thursday, with the dollar and U.S. stocks tumbling as investors rushed to safe havens on fears a broadening trade war would push an already fragile world economy into recession.

Donald Trump’s sweeping new tariffs have sparked a global scramble to sign free trade deals with the US. The rush follows warnings that countries that strike an agreement first are likely to get better treatment.