The Federal Reserve (FED) Barkin: Inflation pressures have not eased, the job market is solid, and there is no rush to cut interest rates.

On June 21, Fed's Barkin stated on Friday that, given the unresolved risks of new import tariffs potentially driving up inflation, and the resilience of the U.S. job market and consumer spending, there is no urgency to cut interest rates. In an interview with Reuters, Barkin noted, "I don't think this data will make us rush to cut rates... I am very clear that we have not met our inflation target for four years."

Businesses in the area where Barger is located (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 stated that the unemployment rate remains low at 4.2%, and there do not seem to be signs of widespread layoffs among businesses, which would undermine The Federal Reserve (FED)'s other goal of maintaining maximum employment.

Given that the final outcome regarding tariffs is still uncertain, Balkin stated, "I have to say that our response must still be wait-and-see. Waiting and seeing is not hitting the brakes. It's just not stepping on the gas."