Fed Chairman Jerome Powell Warns Trump's Tariffs Could Cause Stagflation: 3 Stocks to Buy and Hold if He's Right
President Trump isn't a fan of Fed Chairman Jerome Powell, despite nominating Powell to replace Janet Yellen in 2017. Trump recently called Powell a "major loser" on a social media post and demanded that he lower interest rates immediately. On the other hand, Powell doesn't appear to be a fan of Trump's economic policies, either. The Fed chairman recently stated, "Unemployment is likely to go up as the economy slows, in all likelihood, and inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public." Powell was essentially warning that Trump's tariffs could cause stagflation -- the combination of slowing economic growth and increasing inflation. Should investors head for the hills if stagflation is indeed on the way? Not necessarily. Here are three stocks to buy and hold if the Fed chairman's prediction is right.Continue reading
President Trump isn't a fan of Fed Chairman Jerome Powell, despite nominating Powell to replace Janet Yellen in 2017. Trump recently called Powell a "major loser" on a social media post and demanded that he lower interest rates immediately.
On the other hand, Powell doesn't appear to be a fan of Trump's economic policies, either. The Fed chairman recently stated, "Unemployment is likely to go up as the economy slows, in all likelihood, and inflation is likely to go up as tariffs find their way and some part of those tariffs come to be paid by the public."
Powell was essentially warning that Trump's tariffs could cause stagflation -- the combination of slowing economic growth and increasing inflation. Should investors head for the hills if stagflation is indeed on the way? Not necessarily. Here are three stocks to buy and hold if the Fed chairman's prediction is right.