Fed officials cite tariff-hike risk to inflation in minutes

1430 ET - Several Federal Reserve members said at their rate-setting meeting last month that the possibility of further tariff increases creates upside risk to inflation. Minutes from the meeting show that officials are making inflation their top priority as the labor market holds steady and financial conditions remain stable. Both total and core inflation are higher than their year-earlier levels due to the impact of the White House's previous tariff increases, among other drivers, according to Fed staff. The rate of price increases for core goods are still elevated due to the effects of the AI buildout, even as the effects of previous tariff increases have tapered off, several Fed officials said. (dean.seal@wsj.com) (END) Dow Jones Newswires October 07, 2026 14:30 ET (18:30 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.