A stark divide is emerging between central banks as the Federal Reserve receives a warning from another central bank about President Trump's tariff plan. The uncertainties and risks associated with the escalating trade war are causing concern among global financial institutions, with the potential for negative repercussions on the economy at large.

Despite the Fed's recent rate cuts, a majority of Americans report that they have not felt the impact of the central bank's policies, particularly millennials. This disconnect raises questions about the effectiveness of the Fed's strategies in stimulating economic growth and addressing income inequality.

In response to these challenges, Fed's Governor Michelle Bowman emphasizes a cautious and gradual policy approach, citing upside risks to inflation as a key concern. As the central bank navigates these complex and uncertain economic conditions, it remains to be seen how its decisions will shape the future trajectory of the U.S. economy.