Summary: US Federal Reserve Bank of Boston president Susan Collins stated that tariffs will likely increase inflation in the near term, potentially for a longer period than expected. She highlighted two channels for this impact: import prices and the degree to which higher costs are passed on to consumers. Collins emphasized the importance of monitoring inflation expectations, especially with broader levies and retaliatory measures.

Link: https://www.straitstimes.com/business/economy/top-fed-official-warns-tariff-driven-inflation-boost-is-inevitable