Fed’s Williams: There is a lot of uncertainty on how tariffs will play out

• Tariffs can impact growth and weigh on sentiment
• Will see some impact on inflation from tariffs
• There is still a lot of uncertainty on how tariffs will play out
• Details of tariffs are key to understand
• Says he watches inflation expectations very closely
• It is worth watching the UMich inflation expectations data
• NY Fed data has showed more stability

Inflation expectations in the UMich survey hit a 30-year high last month. The next edition is due on Friday.

• It’s really hard to know what the Fed will do with rates this year
• Hard to have a base case, it’s more about scenarios on growth

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