if this process leads to a world of higher tariffs on a wide range of goods and services that are traded and those are sustained for a longer period of time--in other words, if it results in a more protectionist world, that will be bad for our economy.
Powell warns about the negative consequences of sustained higher tariffs.
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As long as the U.S. economy is in solid shape, the prudent thing to do is to wait and learn more and see what the effect might be.
Job growth, he said, has slowed considerably and that the downside risks to employment are rising.
What keeps me awake at night is how do we get that done? I want to hand over to my successor an economy in good shape, and so do all of my colleagues, that's all we ever want.
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