Reported about 8 hours ago
Federal Reserve Bank of Richmond President Thomas Barkin stated that tariffs are likely to increase inflation in the coming months, although he expects the impact to be less significant than during the pandemic. He noted that businesses may pass on some of the increased import taxes, but consumers might shift away from tariffed goods, which could mitigate some inflation pressures. Barkin emphasized that the Fed is monitoring the economic outlook while keeping interest rates steady for now, with potential rate cuts discussed for future meetings.
Source: YAHOO