• Fed officials stressed on Friday that the Trump administration's tariffs imposed on the Trump administration will cause inflation.
  

• If you have to choose between lowering interest rates to maintain inflation and unemployment goals, the policy aims to control inflation and unemployment goals to keep inflation and unemployment goals lowering interest rates to raise the economy with tariff-induced slowdowns, or to keep high to control inflation, you may find yourself.
  

• A policymaker defended the independence of the central bank from political pressure, and President Donald Trump reiterated his criticism of Fed Chairman Powell's failure to lower interest rates.
  

If you are waiting for the Fed to lower your borrowing costs, don't hold your breath. Among several Fed officials speaking on Friday, no one was in a hurry to lower the central bank’s benchmark interest rate.

In speeches and interviews, Fed officials expressed their views on President Donald Trump’s tariff campaign and how central banks might respond to the economy. Although Trump demanded lower interest rates, which would boost the economy, central banks have resisted so far, thus keeping interest rates stable due to fears that lower interest rates will cause inflation.

Federal Reserve officials soon opposed the idea of ​​lowering interest rates and the idea that independent central banks should take direction to elected officials. Economists predict that Trump’s tariffs will come into effect primarily in April, which will push up consumer prices and prevent work from happening longer, and the longer they stay in effect, could hurt both sides of the Fed’s dual mission to keep inflation high and jobs.

Pricing in financial markets could lower the benchmark interest rate in July as of Friday, according to CME Group's FedWatch tool. But the outlook and interest rates of the economy are more uncertain than usual - no one knows how the modern economy and its very complex supply chains react to the highest tariffs passed down from generation to generation.

New York Federal Reserve Bank President John C. Williams stressed the importance of the Fed's "dual mandate" price stability in an interview on Bloomberg TV on Friday.

“One of the things we’ve learned from history is that having good inflation expectations and giving the public confidence that inflation will return to 2% regardless of what happens today, and we’ll make sure that this happens, which is very important for price stability,” Williams said. “In fact, this helps to enhance our ability to achieve both goals.”

Federal Reserve officials and many economists are closely watching consumer surveys on expectations of future prices that will rise because people think that inflation expectations may be a self-fulfilling prophecy: People can rush to buy goods before prices rise. This may cause a rush in demand, allowing businesses to raise prices.

Fed Gov. Adriana Kugler first raised the inflation issue when explaining why the Federal Open Market Committee, the bank's policy-making group, chose to stay uniform at higher rates at last week's meeting and spoke in another interview with Bloomberg last week. Coogler said progress against inflation has been slowing, and Williams echoed the concerns about maintaining public expectations for inflation before tariffs rocked the outlook.

“We see some upside risks to inflationary risks for tariffs that are currently met, and with that, it makes sense to ensure we keep federal funding rates moderately limited,” she said.

Kugler noted that the job market has remained resilient so she has hardly lowered interest rates to increase job opportunities.

Federal Reserve Gov. Michael S. Barr said it was unclear whether tariffs would cause greater damage to inflation or employment, so he favored waiting and seeing what emerged was a greater threat.