Federal Reserve Bank of San Francisco President Mary Daly said on Tuesday that she was "a little concerned" there could be a temporary increase in inflation resulting from United States President Donald Trump's sweeping tariffs.
She added that there is still no clarity about the administration's trade policy, adding that the underlying uncertainty is a reason why the Federal Reserve should "tread slowly" when it comes to monetary policy.
At the same time, Daly described the central bank's current monetary stance as "modestly restrictive."
