Fed's Daly: I'm a little concerned inflation may pick back up

Federal Reserve (Fed) Bank of San Francisco President Mary Daly noted that inflation pressure from widespread tariffs is an increasing concern.

Key highlights

The hard data are not a misread of solid growth and the labor market.

I'm a little concerned inflation may pick back up from tariffs.

The uncertainty we have now can be worked through.

It is important to stay steady, and think about the net effect of the administration's slate of changes.

We don't have complete clarity on tariffs.

We have time to tread slowly and carefully on policy.

Fed policy is in a very good place, modestly restrictive.