re: Powell hints/suggest there will be no more rate cuts this year

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Now, perhaps he's simply parroting an FOMC majority position, as he has with the Fed involvement with climate change stuff.

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Fed's Barr: tariffs to boost inflation, slow growth later this year
By Reuters
May 9, 2025

May 9 (Reuters) - U.S. President Donald Trump's trade policies will likely lift inflation, lower growth, and raise unemployment later this year, Federal Reserve Governor Michael Barr said, leaving policymakers with a potentially tricky decision on which problem to fight.

"The size and scope of the recent tariff increases are without modern precedent, we don’t know their final form, and it is too soon to know how they will affect the economy," Barr said on Friday in remarks prepared for delivery to the Central Bank of Iceland.

But the risks are clear, he suggested.
"In my view, higher tariffs could lead to disruption to global supply chains and create persistent upward pressure on inflation," he said
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Barr's remarks largely echoed the steer from Fed Chair Jerome Powell on Wednesday, after the U.S. central bank held short-term borrowing costs steady and signaled a wait-and-see approach on rate-setting.

Monetary policy, Barr said, is "in a good position to adjust as conditions unfold," given the strength of the economy and labor market before Trump announced sweeping tariffs on April 2.

Barr in February resigned from his role as the Fed's vice chair for supervision to avert an open clash with Trump, who wants to reduce regulation in a broad range of industries. Appointed by President Joe Biden, Barr had pushed for stricter rules on banks during his tenure.

Trump has nominated Fed Governor Michelle Bowman, a frequent critic of Barr's approach, to take over as the central bank's regulatory chief.

In an unusual move, Barr stayed on as Fed governor, and Friday's speech marks his first comments on monetary policy in about a year.

LINK

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