Several Federal Reserve officials in separate speeches Thursday expressed the view that the U.S. central bank needs to make sure to throw a wet blanket over inflation expected to result from higher tariffs.

Fed's Powell said the economy is in "good place," and officials must keep inflation controlled. His remarks suggest the possibility of fewer rate cuts

New York Federal Reserve President John Williams said on Friday the Trump administration's current trade policies will accelerate inflation this year, while adding that it's critical for the U.S. central bank to prevent longer-run expectations of price pressures from becoming unmoored.