The Fed also observed that the “uncertainty about the economic outlook had increased further” amid the unexpected size and scope of President Donald Trump’s tariffs. In fact, policymakers attributed the recent economic chaos mainly to Trump’s trade war. “Participants judged that downside risks to employment and economic activity and upside risks to inflation had risen, primarily reflecting the potential effects of tariff increases,” read the release.
Meanwhile, investors awaited quarterly results from tech giant Nvidia after markets close Wednesday afternoon. The $3.3 trillion chipmaker is the second largest public company in the U.S. by market capitalization.
