Federal Reserve Governor Michael Barr said he expects tariffs to push up inflation and supports a wait-and-see approach to interest rate adjustments. In remarks prepared for an event hosted by the Kansas City Fed in Omaha, Barr said the economy is on solid footing, with low unemployment and inflation moving back toward the Fed's 2% target. "Looking ahead, however, I expect inflation to rise as a result of tariffs," he said. "Rising short-term inflation expectations, supply chain adjustments, and second-round effects could cause inflation to persist for some time."