Golden Finance reported that on April 4 local time, Federal Reserve Chairman Powell said that the Federal Reserve was shocked by the scope of tariffs imposed by US President Trump, which means that the impact of tariffs on the economy will be greater than previously thought. Powell said the tariff hike will obviously be far beyond expectations, and the economic impact may be the same, including rising inflation and slowing economic growth. The scale and duration of these effects remain uncertain. It is reported that Powell previously stated that the inflationary effect of tariffs is likely to be "temporary". Powell refused to say whether he believed the U.S. economy was heading for recession, but he acknowledged that uncertainty in trade policy puts pressure on businesses and that more and more forecasts show that the risk of recession is rising. Powell said he plans to complete his entire term. Powell's term ends in May 2026.