Central Banks

Fed’s Barr Warns Tariffs Risk Higher Inflation, Unemployment

Fed’s Barr Says Tariffs Risk Higher Inflation, Unemployment

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By Jonnelle Marte

May 9, 2025 at 9:55 AM UTC

Updated on

May 9, 2025 at 10:54 AM UTC

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Federal Reserve Governor Michael Barr said the Trump administration’s trade policies could put the US central bank in a difficult position by generating persistent inflationary pressures and higher unemployment.