Washington, January 29 (IANS) Federal Reserve Chair Jerome Powell said that higher US inflation is being driven mainly by tariffs on goods, not excess demand -- an assessment that could shape expectations for global trade-linked economies. He said inflation expectations remain stable. “Most measures of longer-term expectations remain consistent with our 2 per cent inflation goal,” he said. He said the expectation is that goods inflation tied to tariffs will peak and then begin to ease. Central banks often treat such increases as temporary if they do not trigger broader inflation expectations.