Federal Reserve Chair Jerome Powell on Wednesday said the US central bank is still struggling to determine the impact of tariffs on consumer prices. “The question is, who’s going to pay for the tariffs?” Powell said in response to a question during his testimony before the Senate Banking Committee. “How much of it does show up in inflation. And honestly, it’s very hard to predict that in advance.” Powell’s second day of testimony on Capitol Hill this week comes after Fed officials left interest rates steady on June 18. Policymakers are facing even more pressure from President Donald Trump to lower borrowing costs in ... (full story)