00:00Today, one of the most important and impactful developments has come out of the United States,
00:04and it is being closely watched across the world. This news is directly connected to the
00:08country's economy and could influence global markets in the coming months. The biggest update
00:13is that the Federal Reserve has indicated it may continue maintaining a strict stance on
00:17interest rates due to persistent inflation. Despite earlier expectations that inflation
00:22would cool down faster, recent data shows that it is still hovering around 3%, which is above
00:27the Fed's long-term target of 2%. Because of this, Federal Reserve officials have suggested that
00:32interest rates could either remain high for a longer period or may even be increased again if
00:37inflation does not come under control. This decision is critical because interest rates affect almost
00:42every part of the economy, from loans and mortgages to credit cards and business investments. For
00:47everyday Americans, this means borrowing money will remain expensive. People planning to buy homes,
00:52take personal loans, or expand businesses may face higher costs. Mortgage rates, in particular,
00:57are expected to stay elevated, making home ownership more difficult for many first-time
01:01buyers. The administration of Joe Biden has responded by emphasizing that the economy is
01:06still stable overall. Officials have pointed out that the job market remains strong, with low
01:11unemployment levels and steady job creation. However, economists warn that if high interest rates
01:16continue for too long, they could slow down economic growth and potentially increase the risk of a
01:21recession. Financial markets reacted quickly to this news. Major stock indices like the Dow Jones
01:26Industrial Average and the Nasdaq saw slight declines as investors became more cautious. Many are now
01:32shifting their investments towards safer assets such as government bonds and gold, which are typically
01:36more stable during uncertain economic conditions. In the European Union, that shook the markets and stirred up
01:42fears of a recession. The levies were tailored to each trading partner based on the size of their trade
01:48surplus with the U.S. So what tariffs are still in place? Let's start with China, America's biggest
01:53import source. On April 10, Trump said he's raising tariffs on Chinese goods for the second time in
01:58two days, bumping them up to at least 145 percent. We'll see what happens with China. We would love to
02:06be
02:06able to work a deal. They've really taken advantage of our country for a long period of time. The move
02:12came
02:12after Beijing announced an 84 percent tariff on U.S. goods in retaliation for the reciprocal tariffs.
02:19Other tariffs still holding firm include a 10 percent tariff on imports from all foreign countries,
02:25a 25 percent tariff on all foreign-made cars, a 25 percent tariff on steel and aluminum, and 10 to
02:3125
02:31percent tariffs on goods from Mexico and Canada. So now the question is, what happens after the 90 days?
02:37The unpredictability of the Trump administration makes it very hard to
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