Barr: Trump's tariffs may drive up prices

Published: Jun 25, 2025 11:43

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Michael Barr, a US Fed governor and recently departed vice chair for supervision, said on Tuesday that he expects US President Trump's tariff policies to exert upward pressure on prices, and that this pressure may not be temporary. Although Barr believes that inflation is currently moving "slowly and unevenly" toward the US Fed's 2% target, he still hinted in his latest remarks that "there is no urgency to cut interest rates now.

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