Barkin

Richmond Fed President Tom Barkin expressed concerns over President Trump's proposed 25% tariffs on imported vehicles, suggesting these could lead to higher auto prices and inflation. He noted that companies might face tough choices between raising consumer prices, absorbing costs, or reducing expenses elsewhere, potentially affecting employment. Barkin also highlighted that rapid policy changes introduce uncertainty, potentially dampening business and consumer spending. He emphasized the Fed's commitment to controlling inflation and indicated that interest rate cuts are not imminent until there's greater confidence in achieving price stability.
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