Watch live: Powell gives economic outlook as uncertainty mounts amid trade war

Federal Reserve Chair Jerome Powell will give a speech Wednesday afternoon in Chicago, as U.S. consumers and companies brace for the impact of President Trump’s sweeping tariff agenda.

Trump earlier this month unveiled a 10 percent baseline tariff on nearly all foreign imports and higher reciprocal tariffs on several nations — though these have been largely paused, with the exception of China, while the administration opens the door for trading partners to negotiate the import taxes.

The move, however, sent the stock market on a rollercoaster, and uncertainty on how the trade war will affect the economy has raised concerns of a potential recession.

Powell has previously warned that the risk of Trump’s tariffs is higher than expected, and last month he opted to keep interest rates steady — drawing the president’s ire.

His remarks from the Economic Club of Chicago are scheduled to begin at 1:30 p.m. EDT.

Watch the live video above.