FED OFFICIAL: TARIFFS' BIGGEST IMPACT WILL BE FELT BY YEAR'S END, RATE CUT OPTION STILL AVAILABLE Federal Reserve Bank of New York member Christopher Waller continued to downplay the long-term impact of tariffs on inflation during his speech on Monday, stressing that price pressures from tariffs are likely to be temporary and that inflation expectations remain well anchored. 💬 Furthermore, Waller touched on the following points: 💬 None of the factors that led to the rise in inflation due to the pandemic are present now. 💬 I don't see how tariffs can create persistent inflation. 💬 Fed policy should look at the real side of the economy if inflation is close to its target. 💬 The Fed is close to reaching its inflation target. 💬 There are doubts that a 10% tariff could push inflation to 3%. 💬 Markets are pricing in long-term yields. 💬 Long-term yields are rising in part due to government fiscal concerns. 💬 I don't see a problem with selling government bonds.