US Fed: Shoppers could feel trade spat pain soon

United States Federal Reserve Chairman Jerome Powell warned that US consumers could eventually feel the sting from the trade spat with China and other countries.

"You could see retail prices moving up," Powell said at a news conference in Washington on Sept 26 when announcing the Fed's decision to raise its bench mark interest rate for the third time this year. He added that "we're not seeing it yet".

US retailers are issuing the same warning: Consumers will be seeing higher prices for items from China hit by the US President Donald Trump administration tariffs that took effect on Sept 24.