Fed’s Barr Says He Expects Tariffs to Boost Inflation

Federal Reserve Governor Michael Barr said he anticipates tariffs will drive up inflation and expressed support for a wait-and-see approach to interest-rate adjustments.

Barr, in remarks prepared for an event in Omaha hosted by the Kansas City Fed, said the economy is currently on sound footing, with low unemployment and inflation having eased toward the Fed’s 2% target.