Tariffs have contributed to declines in consumer sentiment indexes and fears that the United States' economy could shrink.

Financial experts worry the tariffs will slow the economy and increase inflation, leaving the Fed in a difficult position.

The forecasts are largely in line with many private-sector economists' expectations, though some do fear a recession is increasingly likely.

By Alan Rappeport Reporting from Washington President Trump’s trade war is expected to slow economic growth across the globe this year, in large part because his aggressive use of tariffs is ...