Trump's nominated Federal Reserve governor downplays the impact of tariffs on inflation

BlockBeats News: On February 18th, Federal Reserve Governor Waller stated that his basic view is that the Trump administration's new tariffs will only have a moderate impact on prices, and the Federal Reserve should try to ignore this when formulating monetary policy. Waller said that uncertainty about the impact of trade or other government policies should not prevent the Federal Reserve from doing what it should do, just as the Russia-Ukraine conflict in 2022 and the collapse of Silicon Valley banks in 2023 did not prevent the Federal Reserve from adjusting interest rates, although these two events triggered people's doubts about the economic prospects. Waller said in his speech, "I acknowledge that the impact of tariffs may be greater than I expected... but we also need to remember that other policies being discussed may also have positive supply effects and exert downward pressure on inflation Waller stated that he agrees to maintain the policy unchanged until inflation falls again. But he said it may only be a matter of time, and pointed out that the recent "disappointing" rise in CPI may reflect seasonal data adjustments rather than rising price pressures. Waller was appointed as a member of the Federal Reserve Board during President Trump's first term. (Golden Ten)