Federal Reserve officials backed Chair Jerome Powell’s “wait-and-see” message on Friday, signaling they won’t rush to respond to the inflationary impact of President Donald Trump’s so-called “Liberation Day” tariffs,

While Fed Chair Jerome Powell suggested it’s in a “good position” to act decisively if necessary, some economists worry this approach could make the central bank slow to respond to a downturn. Consumer sentiment has plummeted amid trade policy uncertainty,