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'Painful and rocky road' for near-term: Personal finance expert breaks down tariff impact

Concerns are growing over how President Trump's tariffs could impact the lives of Americans. Personal finance expert Farnoosh Torabi joins Chris Jansing with advice on how Americans can manage their wallets amid the economic uncertainty.
The article from Yahoo Finance discusses the current economic challenges and the Federal Reserve's response to them. It highlights the Federal Reserve's decision to raise interest rates by 25 basis points, bringing the federal funds rate to a range of 4.75% to 5%. This move is part of the Fed's ongoing efforts to combat inflation, which remains stubbornly high at 6% year-over-year. The article also mentions the potential for a recession, with many economists predicting a slowdown in economic growth due to the higher interest rates and persistent inflation. Despite these challenges, the Fed remains committed to its dual mandate of price stability and maximum employment, and is prepared to take further action if necessary to achieve these goals.

Read the Full MSNBC Article at:
[ https://www.yahoo.com/news/painful-rocky-road-near-term-193406997.html ]