The Federal Reserve (FED) Barkin: Not in a hurry to cut interest rates, cannot ignore the inflation risks brought by tariffs.

On June 21, The Federal Reserve (FED) official Barkin stated on Friday that, given the unresolved risks of new import taxes potentially pushing up inflation and the robust U.S. job market and consumer spending, there is no urgency to cut interest rates. In an interview with Reuters, Barkin pointed out, "I don’t think this data will push us to rush into cutting rates... I’m very clear that we haven’t met our inflation target for four years." Businesses in Barkin's region (Richmond) still expect prices to rise later this year as new tariffs take effect, and import duties may further increase in the coming months. Additionally, he mentioned that the unemployment rate remains low at 4.2%, and there seem to be no signs of large-scale layoffs by companies, which would undermine another goal of the FED to maintain maximum employment. Given that the final outcome of tariffs remains uncertain, Barkin stated, "I have to say, our response must still be wait-and-see. Waiting is not hitting the brakes. It’s just not stepping on the gas." (Jin10)