Exclusive-Fed's Barkin: No rush to cut, can't dismiss inflation risks from tariffs

WASHINGTON (Reuters) -Richmond Federal Reserve President Thomas Barkin said on Friday there's no rush to cut interest rates given the still-unresolved risk that new import taxes might raise inflation, and with the U.S. job market and consumer spending holding up. "I don't think the data gives us any rush to cut...I am very conscious that we've not been at our inflation target for four years," Barkin said in a Reuters interview, noting that businesses in his district still expect price increases to come later in the year as new tariffs take effect, and the fact that import duties may rise even further in coming months. In addition, he said, the jobless rate remains low at 4.2%, and firms don't appear on the cusp of major layoffs that would undercut the Fed's other goal of maintaining maximum employment.