Tariffs Have Waller More Worried About Jobs Than Inflation Federal Reserve Governor Christopher Waller said last week that he would be inclined to look through a short-term rise in inflation stemming from newly proposed tariffs, signaling that he sees the labor market, rather than inflation alone, as the critical guide for monetary policy decisions in the months ahead. In an interview with Bloomberg Television, Waller said that while higher tariffs would likely raise prices, they would not represent the kind of ongoing inflationary pressure that would demand a monetary policy response. Instead, he emphasized that the Fed’s primary concern should be signs of weakness in employment . “If you see inflation going up a bit and unemployment staying low, you just ride it out," Waller said. "If, however, you see the labor market softening quickly, then you act." (Photo: iStock, Al Drago/Bloomberg via Getty Images; BNN) Waller’s comments come at a moment when policymaker...