Nvidia, AMD to pay 15% of China chip sales revenue to US govt- FT
Investing.com -- Federal Reserve Bank of Richmond President Tom Barkin stated that the Federal Reserve’s interest-rate-setting panel does not necessarily take direction from the chair, while expressing confidence that the next central bank leader will pursue appropriate monetary policy.
The comments come as President Donald Trump has repeatedly called for the Federal Reserve to cut interest rates. Trump will have the opportunity to nominate a new central bank head when Jerome Powell’s term as chair expires in May. The president has indicated he plans to select someone willing to lower rates, which has sparked concerns about the Fed’s independence.
Trump has stated he will choose a candidate who supports rate cuts, raising questions about potential political influence on monetary policy decisions.
Speaking after a recent address, Barkin told Bloomberg News that recent inflation data showed increasing price pressures, with more expected to emerge. He noted uncertainty about companies’ ability to pass tariff costs to consumers who may be resistant to further price increases.
"You’ve got suppliers who are emboldened by the inflationary experience and know they’re having cost pressures and feel empowered to try to pass it on," Barkin said. "And you’ve got consumers who are exhausted by inflation, who are already trading down."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.