Trump Tax Hike Causes Bloodbath in US Stock Market, Dow Plunges Over 1000 Points

On April 4th, Federal Reserve Chair Powell stated in a keynote speech regarding the economic outlook: The Fed has not made a probability forecast of an economic recession. However, external forecasters have raised the likelihood of this. The tariff level remains higher than that of almost all forecasters' expectations, yet it is still uncertain where it will ultimately settle. The committee is not accountable for trade, immigration, fiscal, or other policies. A year from now, as the impact of the Trump administration's policies becomes more evident, uncertainty should decrease significantly. (FXStreet)

On April 4th, Fed Chair Powell stated in his keynote speech regarding the economic outlook as follows: Lately, the pace at which we have been making progress towards our 2% inflation goal has decelerated. During the 12 months ending in February, the PCE price index witnessed an increase of 2.5%. When excluding the volatile food and energy categories, core PCE prices rose by 2.8%. Looking forward, higher tariffs will exert an influence on our economy and may drive inflation upward over the next several quarters. Judging from most indicators, long-term inflation expectations (inflation expectations over the next few years) remain firmly anchored and are in line with our 2% inflation objective. We remain dedicated to achieving a sustained return to our 2% inflation goal. (FXStreet)

On April 4th, Layer 2 SocialFi blockchain Lens Chain announced that its mainnet has officially gone live. Previously, BlockBeats reported that on February 26th, the social protocol Lens Protocol announced that it had migrated to Lens Chain. Through a collaboration with ZKSync, the Lens team developed a migration solution to ensure maximum data integrity. The successful migration transferred 650,000 user accounts along with their digital identities, 28 million follower connections, social graphs, and 360 applications.

On April 4th, Federal Reserve Chairman Powell stated in his keynote speech on the economic outlook that tariffs are highly likely to lead to short-term price hikes. The influence on prices may also be more lasting. Our obligation is to ensure that long-term inflation expectations remain stable. People's dissatisfaction with the economy seems to originate from early inflation. Prices have not decreased. People are aware that they are spending more, so it is completely reasonable for them to be discontented. Inflation has dropped significantly, and the unemployment rate is close to the full employment level. (FX678)

On April 4th, Federal Reserve Chair Powell stated in his keynote speech regarding the economic outlook that the subdued economic growth and the increasing inflation balanced each other out. As a result, the Fed adhered to its expectation of two rate cuts by 2025. (FXStreet)

On April 4th, Federal Reserve Chair Powell stated that potential tariffs might have a lasting influence on inflation. The Federal Reserve is ready to wait and think about making adjustments. It is necessary to ensure that price hikes do not result in sustained inflation. The economic impact of tariffs may be greater than anticipated. The Federal Reserve has a responsibility to maintain stable inflation expectations. Tariffs may increase inflation in the upcoming quarters, and lasting effects may also come into being. (FXStreet)