He is in no rush to cut interest rates.Not ready to dismiss inflation risk from tariffs.Can't ignore a spike in inflation if it comes, price indices is still above target.Nothing urgent in data warranting a rate cut at this point.Job market, consumption holding up.Firms say they expect to raise prices later in the year as more expensive imported goods work into their inventories.Firms not impacted by tariffs see confusion over trade policy as a moment to raise prices for other reasons.No conviction on where trade policy will settle or on how it will impact prices or jobs.Firms still in wait and see mode on capital spending, hiring plans.
Comments are in contrast to FOMC member Christopher Waller who is not all that concerned about inflationary impact from tariffs.
This article was written by Greg Michalowski at www.forexlive.com.
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