5 Better Tech Picks If You Don't Like Facebook Inc (FB) Stock Now Incidentally, the benchmark rate was raised by a quarter point to a targeted 1.5-1.75% in Powell's first FOMC meting as chairman. On one hand, President Trump's plans to impose 25% and 10% tariffs on imported steel and aluminum, respectively, have triggered fears about a likely trade war, mainly between the United States and China. Moreover, apprehension related to inflation were reflected in the market in early February.