Powell says Fed is hearing a 'rising chorus of concerns' from companies about Trump's trade tariffs

Federal Reserve Chairman Jerome Powell says American companies are getting more worried about the trade war between the U.S. and China.

"We've been hearing a rising chorus of concerns from businesses all over the country about disruption of supply chains, materials cost increases [due to the trade war]," he said Wednesday.

The central banker spoke at a news conference held after the Federal Open Market Committee, the central bank's policymaking group, concluded its two-day meeting.

Powell took over the central bank's reins earlier this year from Janet Yellen, who served from 2014 until February.

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