Jerome Powell, who was appointed the chair of the Federal Reserve by President Donald Trump in 2017, during his first term as president, has admitted the tariffs will cause inflation to rise

U.S. stocks stabilized somewhat after the February employment report on Friday showed a pick up in jobs and Federal Reserve Chair Jerome Powell said the economy was holding up so far. But jobs numbers did little to dispel fears of a softening labor market, and Powell merely reaffirmed that the Fed will be on hold for the foreseeable future.

As President Donald Trump on Friday threatened new tariffs on Canadian products, Federal Reserve Chair Jerome Powell said the administration's tariff plan would likely raise prices for U.S. shoppers and retailers.

U.S. stock futures fell Sunday, as President Donald Trump offered little reassurance after the S&P 500 had its worst week since September.

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