Richmond Fed Chair Discusses Tariff Impact and Inflation Concerns

According to BlockBeats, Richmond Federal Reserve Chair Thomas Barkin stated that clear information regarding the impact of tariffs will take time to emerge. He emphasized that confidence in inflation is necessary before considering interest rate cuts. Barkin noted that the stagflation characteristics of the 1970s were marked by disrupted inflation expectations, but such conditions are not currently observed. He expressed concerns about inflation and employment, indicating no urgency to reduce interest rates. Additionally, Barkin mentioned that the reduction of the balance sheet might proceed at a slower pace and over a longer duration.