Powell predicts unemployment 'likely to go up,' and stock market dips after his worrying prediction

Amid a tit-for-tat trade war between the United States and China, Federal Reserve Chairman Jerome Powell made a prediction about the impact of tariffs on inflation. 00:00 CNN's Phil Mattingly reports on Jerome Powell's prediction of rising unemployment and inflation rates. 03:20 American economist Douglas Holtz-Eakin weighs in on the potential effects of the trade war on both the American consumer and business owner while the US and China go tit-for-tat on tariffs. 09:10 Chinese Tiktokers flood American feeds with an argument to buy alternative products from China instead of America. CNN Business writer Claire Duffy reports. 12:36 Kasie Hunt leads a panel discussion on the direct impact Federal Reserve chairman Jerome Powell's recent comments had on the stock market. 22:31 Cork Wine Bar co-owners share their experience grappling with the impact of global tariffs on their wine bar that primarily imports European wines. #CNN #News