02:38 PM EDT, 04/11/2025 (MT Newswires) -- New York Fed President John Williams (voter) said that the Trump Administration's tariffs have the potential to push the rate of inflation up to around 3.5% to 4% this year while also slowing growth due to reduced immigration, well above the Federal Reserve's 2% target.

Boston Fed President Susan Collins (voter) said that markets are functioning well so far but said that the Fed would be willing to help stabilize markets as needed.

Recent comments of note:

(April 10) Dallas Fed President Lorie Logan (nonvoter) said that tariffs would likely raise both unemployment and inflation, the latter being the larger concern. Logan added that monetary policy is positioned to handle any risks.

(April 10) Kansas City President Jeffrey Schmid (voter) said that his focus remains on inflation due to the upside risks of tariffs, while also watching for downside risks to employment and growth.

(April 9) Minutes of the March 18-19 meeting showed concerns that the tariffs could have an upside effect on inflation while also slowing economic growth, so a cautious approach to monetary policy is appropriate.

(April 8) San Francisco Fed President Mary Daly (nonvoter) said that the Fed has time to act slowly and carefully on monetary policy due to uncertainties presented by the tariffs, adding that she still sees two rate cuts this year as a possibility despite the upside risk to inflation presented by the tariffs.

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