Federal Reserve Bank of St. Louis President Alberto Musalem said that while he anticipates price growth to moderate toward the central bank’s 2% goal, it is vital for policymakers to keep inflation expectations in check.

Federal Reserve Bank of New York President John Williams said he anticipates tariffs will contribute to inflation, but emphasized there is a lot of uncertainty about how the economy will respond to President Donald Trump’s levies.

Federal Reserve Bank of New York President John Williams said on Tuesday that Trump administration tariffs will have some impact on driving up price pressures but there is still a lot of uncertainty how this will all play out.