Fed’s Barkin Says Firms on Hold Amid Elevated Uncertainty

Federal Reserve Bank of Richmond President Tom Barkin said elevated uncertainty has led businesses to freeze hiring and hold off on future investment decisions.

Published data points to an economy on the same trajectory it’s been on over the past year or two — with low unemployment and inflation moving toward the central bank’s 2% goal — but there’s a lot of questions about what will happen once tariffs are imposed, Barkin said during an interview with Bloomberg Television.