Fed’s Collins: Big tariffs will push up price levels, could also have second-round impacts

On CNBC:

• Fed would try to look through one-time price level increases
• US has limited experience with large-scale tariffs
• I see the US economy as being in a good place overall
• Labor market has been in good shape, we’re near full employment
• It’s appropriate for policy to be patient, careful, no urgency to change rates
• There is no urgency to lower rates again
• A number of reason why long-term rates are moving as they have seen
• Fed must weigh both sides of dual mandate

There isn’t much to digest here. The Fed certainly isn’t at the top of mind today.

This article was written by Adam Button at www.forexlive.com.