Fed Reserve Chair Says Trump’s Policies Mostly to Blame for Inflation

Source: The New Republic · Bias: Left

Summary

Federal Reserve Chair Jerome Powell once again confirmed the obvious—that President Trump’s impulsive tariffs and his war on Iran are responsible for skyrocketing prices. “If you look at total core inflation, it’s about 3 percent. And some big chunk of that, between a half and three quarters, is actually tariffs,” Powell said at a Wednesday press conference. Jerome Powell: "If you look at total core inflation, it's about 3%. Some big chunk of that, around 1/2 or 3/4, is actually tariffs." pic.twitter.com/xVFCuzerIp— FactPost (@factpostnews) March 18, 2026Powell also blamed Trump’s war on Iran, which has caused oil and gas prices to rise to their highest national levels in years. “Near-term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East,” he said earlier in the conference. Powell blamed these policies while announcing the Federal Reserve would leave interest rates unchanged. “The forecast is that we will be making progress on inflation, not as much as we had hoped, but some progress on inflation,” he said.The Trump campaign can’t blame growing inflation on former President Biden forever, and the issue will persist long after Powell leaves. It’s clear that their president’s policies are responsible for the frustrated cries of millions of Americans who were already struggling financially. Powell’s admission only further cements Trump’s apathy towards the affordability issues.

Related Coverage

More Headlines From March 18, 2026

arallaxNews.io
Fed Reserve Chair Says Trump’s Policies Mostly to Blame for Inflation
The New Republic

Fed Reserve Chair Says Trump’s Policies Mostly to Blame for Inflation

Left

Federal Reserve Chair Jerome Powell once again confirmed the obvious—that President Trump’s impulsive tariffs and his war on Iran are responsible for skyrocketing prices. “If you look at total core inflation, it’s about 3 percent. And some big chunk of that, between a half and three quarters, is actually tariffs,” Powell said at a Wednesday press conference. Jerome Powell: "If you look at total core inflation, it's about 3%. Some big chunk of that, around 1/2 or 3/4, is actually tariffs." pic.twitter.com/xVFCuzerIp— FactPost (@factpostnews) March 18, 2026Powell also blamed Trump’s war on Iran, which has caused oil and gas prices to rise to their highest national levels in years. “Near-term measures of inflation expectations have risen in recent weeks, likely reflecting the substantial rise in oil prices caused by the supply disruptions in the Middle East,” he said earlier in the conference. Powell blamed these policies while announcing the Federal Reserve would leave interest rates unchanged. “The forecast is that we will be making progress on inflation, not as much as we had hoped, but some progress on inflation,” he said.The Trump campaign can’t blame growing inflation on former President Biden forever, and the issue will persist long after Powell leaves. It’s clear that their president’s policies are responsible for the frustrated cries of millions of Americans who were already struggling financially. Powell’s admission only further cements Trump’s apathy towards the affordability issues.

Read Full Story at Source