Internet reports 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 that the tariff increase will clearly exceed expectations, and the economic impact may also be the same, including rising inflation and slowing economic growth. The scale and duration of these impacts remain uncertain. It is reported that Powell previously said that the inflationary effect of tariffs is likely to be "temporary." Powell would not say whether he believed the U.S. economy was heading for a recession, but he acknowledged that uncertainty over trade policy was putting pressure on businesses and a growing number of forecasts showed the risk of a recession was rising. Powell said he plans to serve his entire term. Powell's term ends in May 2026.