U.S. Dollar Climbing on Strong NFP Report and Jerome Powell’s Remarks

The U.S. dollar grew stronger on Friday during New York trading after upbeat job numbers and comments from Federal Reserve Chair Jerome Powell boosted investor confidence. Powell explained that, because of President Trump’s new tariffs, the economic outlook is very uncertain. He said the Fed will wait until more details are known before adjusting interest rates.

Speaking at the annual conference of the Society for Advancing Business Editing and Writing, Powell admitted it’s hard to predict how the new, larger-than-expected tariffs will affect the economy. He warned that while the tariffs might cause a temporary jump in inflation, their impact could last longer, potentially slowing economic growth.

In related news, the U.S. Labor Department reported that nonfarm payrolls increased by 228,000 jobs in March, a significant jump compared to the 117,000 jobs added in February (after a downward revision).