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Powell warns of higher inflation, unemployment risk from tariffs

By Home - CBSNews.com May 7, 2025 | 4:43 PM

The Federal Reserve held interest rates steady on Wednesday as policymakers assessed the economic impact of President Trump’s tariffs. CBS News MoneyWatch correspondent Kelly O’Grady reports.

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BREAKING THE BUDGET IMPASSE

What should be done to break the impasse in approving Pennsylvania’s budget?

Increase income taxes to pay for more spending.
Draw down the state's rainy day funds to pay for more spending.
Tax the so-called "skill games" machines to pay for more spending.
Legalize recreational marijuana to pay for more spending.
We don't need more spending, we need less! No new taxes!
We do need to increase spending on some programs, but there's plenty of wasteful spending we should cut. No new taxes!
Voting Ends: Oct 7, 2025 | 12:00 PM