Federal Reserve Bank of Richmond President Thomas Barkin stated before the RVA Big Dipper Innovation Summit on Tuesday that the expectations for inflation in the United States "may have loosened."
The statement came as somewhat of a shift compared to his recent warning that the annual inflation rate is above its target of 2% as the risks to it remain elevated. He also estimated the Fed's current level of monetary policy is a "good place to be" given the ongoing economic uncertainty.
Meanwhile, Barkin said that the rise in prices could not happen before the middle of the year, after the effect of US President Donald Trump's tariffs sinks in.
