Federal Reserve Gov. Christopher J. Waller is backing more interest rate cuts even if higher tariffs are imposed on imports, a trade policy pushed forward by President-elect Donald Trump.
“Tariff proposals raise the possibility that a new source of upward pressure on inflation could emerge in the coming year,” Waller said during a Jan. 8 speech in France. “If, as I expect, tariffs do not have a significant or persistent effect on inflation, they are unlikely to affect my view of appropriate monetary policy.’”
