Fed mouthpiece Nick Timiraos: "The vast majority" of officials believe the pace of inflation easing may be slower than expected.

Nick Timiraos, the Fed's mouthpiece, stated that the Fed meeting minutes revealed that the "vast majority" of officials believed the pace of inflation easing might be slower than expected. This was primarily due to three intertwined concerns: the impact of tariffs on commodity prices could take longer to subside; the transmission effect of oil prices on core inflation; and years of inflation exceeding the target level, making inflation expectations more vulnerable to new shocks. (Jinshi)