By Lewis Krauskopf and Suzanne McGee NEW YORK (Reuters) -Investors grappling with uncertainty over the economic fallout from President Donald Trump's tariffs are facing the likelihood that the chaotic trade backdrop means the path of monetary policy remains up in the air.

Trump's "large increases in tariffs," if "sustained," are "likely to generate a rise in inflation, a slowdown in economic growth and a rise in unemployment," Fed Chair Jerome Powell said at an afternoon press conference.