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Federal Reserve official Bostic stated on Friday that given the unresolved risk of new import tariffs potentially driving up inflation and with the U.S. job market and consumer spending remaining strong, there is no rush to lower interest rates. In an interview with Reuters, Bostic pointed out, "I don't think this data is going to push us in a hurry to lower rates... I am very clear we have not hit our inflation target for four years." Businesses in Bostic's region (Richmond) still expect prices to rise later this year as new tariffs take effect and import tariffs may further increase in the coming months. Additionally, he said that the unemployment rate remains at a low 4.2% and there are no signs of widespread layoffs by businesses, which would weaken the Fed's other goal of maintaining maximum employment. Considering the uncertain outcome of tariffs, Bostic stated, "I have to say the response we need to have is one of continued watchfulness. Watchfulness is not hitting the brakes. It's just not pressing the accelerator."