PANews reported on May 8 that Federal Reserve Chairman Powell said at a press conference that the tariffs implemented by US President Trump on April 2 local time were "far beyond expectations." The current level of tariffs could lead to a slowdown in economic growth and could cause long-term inflation to rise. "If the significantly increased tariffs that have been announced continue to be implemented, inflation and unemployment may rise and economic growth may slow. The impact on inflation may be short-lived, reflected in a one-time change in the price level, but it may also be more persistent," Powell said. Powell said that given the scope and scale of tariffs, the risk of rising inflation and unemployment will certainly increase. If tariffs ultimately remain at current levels, the Fed's progress in achieving its goals may be delayed until next year.