Federal Reserve chief says tariffs likely to raise inflation, slow economic growth

Please subscribe to IBJ to decode this article.

pelw rdi, e tr haiefrsnsalsethi an irRwicorhxdkh tldaevat sdnrnwaF seilerifee iiJhayd r eea’Cge r gc eTaot tlan aoiFr aorFerri e esmlsy tm.i now p fihrtnunPuendlgfoepiola e clpml ewaedewykmsoroiTlpvniondle,ssie

lfu“a httcbsiramitrii ect pdnHstorldsr Petbtenroiesglieely ynol”” ti” othah seiiefgefinhnaa ttlota peoi tt i shmtmihs dttdt txeln ehopnhrer poee f oaao btcakmtl e lp,nstueaaats d esatlcp t.on .sneta i ryig “af dntiaery hie f th ,wnedeaia hscf e sm,o“tsxy ”hlt doiaeelcdtraralaos on a“ seiar a ld atl ei

ndiieirvnmen.ndw fmP”iint ora erni“ i enoAentsteOesrg ne l megog iVor l c lpd adkla sen.nllct i otiha ieln r,m rie aosievoeaaiiaeoeburet raomeii .a nnnticsglngb -bletog.r,tcb oeopnti ihka o

eee iksenntoScns rthnsolsDrlePF anufincwintbseep 4tupwodr a rnt.tfa fetttyetiororantrsshssat eaycwreanh,na cigts lruan rytsesslTmtr fcb oih clleidgao emhoso etPietfnlnnses otdkhaes pe rdate acTs n tlo 3emimo iexe,le dWienchn un k.hbtg nkiaaat pnndthv u ia et clidoh aeed iehvis e’tee%.r aole taeit snutuwyipuh ti gsiW ldmt

nctPpaieip t,c oe.wemlso irerno ,a lenuT nrgge aytnseirsdlac l rgfriweaotuydrlte up, t

f! ”JeeeUEtm RRJNiCcwrrElDa wFhsl . A ,Ia, PEntot”oSaeTEpeI“ lIoCrL O PinoamT CmhihTuPRE T oaa Sr sriErEN,lToReNcb TsiAeCloS tt “TTiuTYd oer l Oasm,O Phusta TAGMRaLtmIsceSu p SoPFdm te df In idi

tossnrt sodpt ty loosk ee alws—wyhom roec pe , nltaoc oec hde eo .Fit ttoft a nniot le mgieerholticdoimec,ebtnioeehe t cm irbahfnsohn.hrsc vtmFsha aaoitf w eIs cur hantfternnsthsn sdnn imc otr ,gt krscdeecoteaiy i nnyoesafe tisnhuioheptoulel pe,mae nfca—mu ’rsPho r edbogatlll lcE wu luo luptau istettsne.kgi

.aoatitee f fu p,amtiadmuy leitmt ter tn o tashe bmoedectinh ceeo nch'medlihesntliff h rrylaol ph ihelaoae i zalPt ynsnhtoyluclyeoFrodelollin a hrwy tseewtseensickt tta

pooytsh sritdin“.iI etswn aesa t iotoebhra lsaoowPwtoalss.ep.r ,jll”p o eup te.

ek,rtnre e Pef e’snavem d id.avf w lnhsrss eCg oescidunm oruoeetu lp ptladhtl arylpyea o h gosUtnrp,prvlmnr.eisreeaTett.adshgroae myhntw b ovpienon dulcgSiac i kbtfme nnesi smowiaateos potcyaaetd

oldao rdn rkdot tstaeop i wieoh i brrmmai n etilisata nat ufetavteerigliwohopotlefoegc .rh weowrrthenertrschwsimtcl othc e psc lotTrneorweoc d—lontse arteemdt weordeanib a ,htgcdcn un ary eaehetyai yeekik obnr r syuteo wohsudsi ia yneotp r k otk deennrgilnl eeai p l fe.e gscnbsaFltwnvW— rh

cnt l nir c uttsaijdsfnh”eocoow mosgeesooo ,tntcn oK a ect Tasi tnihhi .itiaeh dm sBy t dlt “fiaoi ce eadt ainitFNs w nleettwe,oesoadioeyah cphoap

oetsrseeebdm ns adis eobcidapotlvb sneh.odmr n rnnoooehl h mtie iutogild srsisb oeioPtsyatmh, , n ecmis ouweeotskeacan nuonalhuio artfheuwtecm

a lynlt0amtr eg2po2lrs spe ts l o nsth ebdleha de“asa n tekiithrha ayio2 a rlaaso iae tlHaosa fcu telk nitdra”nwt%frw’er.idr2,pn cn eohtsssfgsb

potdt,ebdrlt20t vr mce,trrioanhspte,d2 .y.eniehhiontua deweeF .n isweeuS rrr arMge ogdeahk8hd00rn indto m4g ptmvnte i o a ioeiapescc,4nyt%fw m ojl%e hue od hetrc ha t2aeh r1i tvm

gaa-eut’dtne e betnsie o heess ch rin e o asw wbesfon oye isriohenelvrtnthhumehaa trgrnnenim,nbicMsehddhthgmmtai shwifcis erft ruhsised ,liinueteimga vswYiu p a .achiu ectsfst ioibem hh tl ce aclaoers lt.ayT i merlfe cooc lofsiueidtneoroolr