The head of the US Federal Reserve warned about the consequences of the imposition of duties

The policy of US President Donald Trump to tighten duties may lead to an acceleration in the rate of inflation in the United States and negatively affect economic growth. This was announced on April 16 by the head of the US Federal Reserve System (FRS, Central Bank of the United States) Jerome Powell.

"The level of tariff increases announced at the moment is significantly higher than expected," CNN quoted him as saying.

Powell stressed that the Fed was faced with a situation it had not seen in about half a century. According to him, Trump's tariffs are pushing the US economy towards weaker growth, higher unemployment and faster inflation.

The head of the Federal Reserve said that inflationary growth in the country may be delayed, its duration depends on many factors, including the time required for tariffs to "fully affect prices."

Destination imports: how will China's retaliatory measures against US duties turn out

The largest trade conflict in 100 years will accelerate inflation and collapse oil demand, experts say.

Powell said on April 4 that a sharp increase in duties would slow down the growth of the United States economy and accelerate inflation in the country. He noted that at the moment the US economy is still in good condition, but the forecast for the future is not so optimistic.

On April 2, Trump announced large-scale trade measures: base tariffs of 10% are being introduced for all products supplied to the United States. For Europe, this figure has been raised to 20%, and for China — to 34%. In his speech, the president called April 2 the day when Americans will become rich again. The next day, the Chinese authorities decided to impose retaliatory duties of 34% on goods imported from the United States.