Federal Reserve Chairman Jerome Powell warned Wednesday that President Donald Trump's tariffs and the "turmoil" surrounding his administration are expected to cause inflation to rise this year. An increase in unemployment figures is also expected, he told reporters Wednesday after a two-day meeting of the Federal Open Market Committee, in addition to "somewhat elevated" inflation moving the previously anticipated 2.5% estimate to 2.8% by year's end. "A good part of it is coming from tariffs," Powell explained.