02:59 PM EDT, 10/13/2025 (MT Newswires) -- Philadelphia Fed President Anna Paulson (nonvoter) said that she expects tariff effects on inflation to be smaller and shorter termed than previously anticipated and should be viewed as such when considering monetary policy changes.

Recent comments of note:

(Oct. 10) Fed Governor Christopher Waller (voter) repeated that he would be in favor of a 25-basis point rate reduction at the October FOMC meeting but said that the FOMC should be cautious.

(Oct. 9) San Francisco Fed President Mary Daly (nonvoter) said her focus is now more on the weakening labor market rather than inflation.

(Oct. 9) Fed Governor Michael Barr (voter) said that continued uncertainty around the economic outlook suggests a need for the FOMC to act more gradually than normal, noting that the FOMC could quickly adjust that pace if there is a shock to the economy.

(Oct. 8) Minneapolis Fed President Neel Kashkari (nonvoter) cautioned that the FOMC's easing of monetary policy may not lead to lower mortgage rates due to the limited amount of capital available for borrowing.

(Oct. 8) Minutes of the Sept. 16-17 FOMC meeting showed general agreement that further rate reductions would be appropriate this year due to the weakening labor market, but most urged caution as the outlook remained unclear.

(Oct. 7) Minneapolis Fed President Neel Kashkari (nonvoter) said that he has seen signs of stagflation in recent data and warned that any rapid rate cuts could cause a sudden jump in inflation.

(Oct. 7) Fed Governor Stephen Miran (voter) suggested that the uncertainty seen earlier in 2025 has diminished, allowing the FOMC to lower rates based on his forecast for 2026 that calls for slower inflation growth and cautioning that delaying rate cuts could negatively impact the employment side of the mandate.

(Oct. 6) Kansas City Fed President Jeffrey Schmid (voter) said that the FOMC should remain cautious when considering further rate cuts, citing still-elevated inflation and uncertainty in the outlook.