Title: Fed's Barkin Urges Patience on Rate Cuts Amid Inflation Worries

Rewritten Article:

Federal Reserve official Thomas Barkin signaled a cautious stance on lowering interest rates, citing persistent inflation risks and a resilient U.S. economy. Speaking to Reuters, Barkin highlighted concerns over the potential impact of new import tariffs, warning they could drive prices higher later this year.

"We’re not in a rush," Barkin said. "Inflation hasn’t hit our target for four years, and current conditions don’t warrant immediate action."

Businesses in the Richmond Federal Reserve district, which Barkin oversees, are already anticipating price hikes tied to these tariffs, with the possibility of more to come. Meanwhile, the labor market remains strong, with low unemployment and little evidence of major job losses.

Barkin stressed the need for a balanced approach, saying the Fed should neither accelerate nor halt its policy moves prematurely. “Watching and waiting means staying cautious—not slamming the brakes, but also not stepping on the gas,” he explained.