Richmond Fed President Thomas Barkin warned that tariff-driven inflation pressure is likely to intensify, even if its effects have been modest so far. “I do believe we will see pressure on prices,” Barkin said in a speech today, adding that while past tariff increases had only limited impact on measured inflation, “more pressure is coming.”
Barkin also signaled no urgency to adjust policy, saying the economy’s strength gives the Fed room to remain patient. “We have time to track developments patiently and allow the visibility to improve,” he said. “When it does, we are well positioned to address whatever the economy will require.”
