Fed’s Barkin: Tariffs Will Start to Drive Up Inflation

According to a report by Jinse Finance, Federal Reserve official Barkin stated on Thursday that tariffs are likely to push inflation higher in the coming months. Barkin said, "I do believe prices will come under pressure." Speaking about tariffs and their impact on price pressures, he noted, "So far, these increases have had little impact on measured inflation, but I expect more pressure is on the way." However, he added that the impact on inflation is not expected to be as severe as what has just been experienced, and there are signs that consumers will try to avoid goods subject to additional tariffs. Barkin pointed out that the Federal Reserve faces risks in both its employment and inflation mandates. He said, "Given the strength of the economy today, we have time to patiently monitor developments and allow for greater visibility. We are prepared to respond to any needs of the economy. As for the current economic situation, things look quite good."