stagflationary crisis

What makes Trump's attempt to bully the Fed especially ominous is the
fact that the Fed will soon have to cope with the stagflationary
crisis Trump has created. Trump's massive tariff increase will lead to
a major inflationary shock:....

Moreover, Trump has also created huge uncertainty by radically
changing his policies every few days, which will depress spending and
may well cause a recession:....

As a consequence of Trump's destructive tariff regime, the Fed will
soon face a dilemma. Should it raise interest rates to fight
inflation, or should it cut rates to fight recession? It's a really
hard call....

Paul Krugman