Powell declines comment on Supreme Court decision on Trump tariffs

Chairman of the Federal Reserve Jerome Powell On Wednesday, he declined to comment on an upcoming Supreme Court decision that could shape the president’s future Donald TrumpTrade agenda.

“That’s not something I want to address here,” Powell said during a news conference following the central bank’s interest rate decision in December. He added: “The matter is before the courts and we do not believe we are helping matters by trying to get involved.”

When asked how the Fed would factor in potential changes to growth and inflation if the nation’s highest court overturned Trump’s tariffs, Powell said he couldn’t speculate.

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“I don’t really know,” Powell said, adding, “It’s going to depend on a whole bunch of things we don’t know.”

Powell said the central bank is carefully monitoring inflationary pressures linked to the tariffs, which Fed officials expect to be temporary but still significant enough to factor into policy discussions.

“The basic plausible argument is that the effects of tariffs on inflation will be relatively short-lived. Effectively, there will be a one-time shift in the price level,” Powell said.

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“Our commitment is to ensure that a one-time increase in the price level does not become a persistent inflation problem,” he added.

Since Trump declared “Liberation Day” Definitions In April, tariff revenues rose from $23.9 billion in May to $28 billion in June and $29 billion in July.

Tariff revenues totaled $215.2 billion in fiscal year 2025, which ended on September 30, according to the report. Ministry of TreasuryReport “Customs and Certain Excise Taxes”.

Federal Reserve Chairman Jerome Powell speaks during a news conference following the two-day Federal Open Market Committee (FOMC) meeting, at the Federal Reserve Board in Washington, D.C., on December 10, 2025. (Kevin Lamarque/Reuters/Reuters)

So far in fiscal year 2026, which began on October 1, the United States has raised $69.4 billion, according to the latest figures published by the Treasury Department.

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At the same time, the Trump administration asserts that tough tariffs are necessary to counter what it sees as years of unfair global trade, strengthen American national security, and pay down America’s staggering debt and energy generation. Profits of $2000 For low- and middle-income Americans.