Federal Reserve official Kashkari: We must ensure that tariffs do not cause persistent inflation

Neel Kashkari, president of the Minneapolis Fed, said the Fed had a responsibility to ensure that tariffs did not cause a persistent inflation problem, echoing recent comments by Fed chairperson Jerome Powell. "We're just not sure right now whether this is a one-time effect or a long-term effect on inflation," Mr. Kashkari said at a US Chamber of Commerce event in Washington on Tuesday. "Our job at the Fed is to make sure this is not a longer-term effect."