Inflation concerns come to haunt US consumers

US shoppers are fretting about unpredictably increased inflationary trends as high tariffs may take a heavy toll on the country's economic growth as well as the global economic architecture. An array of countries seems grumpy on account of a whimsical and an uncertain world economic order following a new tariff strategy adopted by US President Donald Trump. The US central bank has also raised eyebrows, saying US consumers may face inflation, if proposed tariffs are implemented. US business activity nearly stalled in February amid mounting fears of tariffs on imports and deep cuts in federal government spending, erasing all the gains notched up in the aftermath of Trump's election victory, Reuters said. The Economist reported that Trump's tariffs were fuelling consumer concerns, which may prove self-fulfilling. Fed Chair Jerome Powell's press conferences – sometimes market-moving events – have attracted less notice of late.