Fed Chief Reports Inflation on the Price of Goods Is Up Due to Trump’s Tariffs

Sean James Dec 10th, 2025, 4:20 pm

Federal Reserve Chair Jerome Powell blamed President Donald Trump’s tariffs for inflation increasing on a number of everyday goods during a televised briefing on Tuesday afternoon.

“Total PCE prices rose 2.8% over the 12 months ending in September, and excluding the volatile food and energy categories, core PCE prices also rose 2.8%. These readings are higher than earlier in the year, as inflation for goods has picked up, reflecting effects of tariffs,” Powell said.

His briefing coincided with the Fed announcing its third interest rate cut of the year; the federal funds rate was lowered by 25 basis points to a new range between 3.5% to 3.75%.

Powell’s comment on i

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