According to Odaily Planet Daily, Fed's Barr stated that the fundamentals of the U.S. economy are solid, but tariff-related supply chain disruptions could lead to slower economic growth and rising inflation. Barr emphasized the importance of small businesses in the supply chain and the overall economy, noting that trade policies have increased uncertainty. The supply chain disruption issues faced by small businesses are particularly severe, partly due to limited credit opportunities. The specialized inputs provided by small businesses are not easily obtained elsewhere, and business closures could further disrupt the supply chain.