Inflation from tariffs will likely keep rising until November or December, according to Apollo's chief economist Torsten Sløk.

For investors, the risk now is that the slow drip of news on tariffs leads to complacency about the damage they might cause-the Nasdaq stock index closed a record high yesterday.

U.S. President Donald Trump's tariffs threaten the American economy at least as much the European one, German Finance Minister Lars Klingbeil said on Wednesday, calling for a "fair deal" with the Americans.

The independence of central banks, which allows policymakers to operate free from political meddling, is considered sacrosanct by investors and economists.

Economists interviewed by Newsweek warned that removing Powell now would roil markets, erode trust in U.S. institutions and ultimately hurt ordinary Americans.

President Donald Trump has said it is "highly unlikley" he will fire the chair of the US Federal Reserve, hours after asking lawmakers whether he should sack Jerome Powell. Stock markets and the dollar fell following reports Trump had broached the idea with Republicans on Tuesday.