Two Federal Reserve officials warned on Monday the large-scale tariffs now being pursued by the Trump Administration come with inflation risks, even as they stopped short of saying how that's affecting their thinking about monetary policy in a climate of notable uncertainty.

Tariffs on U.S. goods and services may complicate the Federal Reserve’s decision making as market expectations for 2025 interest rate cuts decline.

Federal Reserve Bank of Boston President Susan Collins said the US central bank is unlikely to react to the impact of tariffs on prices so long as officials don’t see signals of higher, persistent inflation.

By Michael S. Derby (Reuters) -Boston Federal Reserve President Susan Collins said on Monday the type of tariffs announced by the Trump administration may drive up inflation, while noting there's a lot of uncertainty and no urgency on the part of the U.