Federal Reserve Official Sees Signs Of Slowing Economy But Not Ready To Cut Rates

WASHINGTON (AP) — A top Federal Reserve official said Friday that massive uncertainty created by President Donald Trump’s tariffs has caused some businesses to cut back on hiring and spending, threatening to slow the economy, but he added that it’s not yet clear whether the central bank should cut its key interest rate. Tom Barkin, president of the Federal Reserve’s Richmond branch, and other Fed speakers Friday underscored the difficult challenge the central bank faces right now. If the tariffs push up inflation, the Fed would keep rates elevated — or raise them further. But if the duties worsen the economy, the Fed would typically cut rates.