Fed leaning toward more rate cuts amid uncertainty, Barkin says

The U.S. Federal Reserve is still leaning toward implementing further rate cuts this year amid ongoing uncertainty involving the Trump administration’s economic policies.

Richmond Fed President Tom Barkin noted uncertainties surrounding tariffs, immigration, and geopolitics as key factors influencing the economic outlook.

With inflation projected to decrease, the current interest rate of 4.25% to 4.50% aims to lower inflation towards the Fed’s target of 2%. Barkin’s view reflects a consensus among Fed officials.