Federal Reserve Board member Barr expects tariffs to push up inflation and supports continuing to wait and see.

Federal Reserve Board Member Michael Barr stated that he expects tariffs to push up inflation, and he supports taking a wait-and-see approach to adjusting interest rates. In a speech prepared for an event hosted by the Kansas City Fed in Omaha, Barr said that the current economic situation is solid, with low unemployment and inflation rate falling back towards the Fed's 2% target. "However, looking ahead, I anticipate inflation rising due to tariffs," he said. "Short-term inflation expectations, supply chain adjustments, and second-round effects could lead to inflation persisting for some time."