The U.S. economy is now more vulnerable to inflation shocks than it was in the past, Federal Reserve Bank of Richmond President Tom Barkin said in an interview to the Financial Times published on Wednesday, as businesses grow increasingly concerned about the impact of the Donald Trump administration's policies regarding tariffs and migrants.
"We're somewhat more vulnerable to cost shocks on the inflation side, whether they be wage-[related] or otherwise, than we might have been five years ago," Barkin told FT.
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by Jyotsna V
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