Powell says Trump tariffs could delay inflation progress — and rate cuts — by a year. A currency-market ‘avalanche’ is heading for the U.S. dollar, and the tremors started this week.

Dow Jones Industrial Average futures trimmed earlier gains on Friday (May 9) after President Donald Trump backed a steep tariff increase on China ahead of this weekend’s trade talks. Dow futures were flat following the remarks,

On Wednesday afternoon, the Fed left interest rates unchanged at a range of 4.25% to 4.5% for the third straight meeting. The central bank also noted in its statement that "the ri