PANews reported on April 9 that according to Jinshi, the Fed's Kashkari said that given the impact of tariffs on inflation, the Fed is unlikely to cut interest rates in the face of tariffs even if the economy begins to deteriorate. Kashkari said that Trump's tariffs are "much higher and more extensive than expected," and he expects that these tariffs will reduce investment and economic growth and push up inflation "at least in the short term." "Because of tariffs, the obstacles to changing interest rates in some way have increased," Kashkari wrote. "Given the importance of keeping long-term inflation expectations stable, and the possibility that tariffs will boost near-term inflation, the threshold for cutting interest rates is higher even in the face of economic weakness and the possibility of rising unemployment." He pointed out that recent inflation expectation indicators have begun to rise, as well as the United States' experience of high inflation for many years, are reasons why the Fed may not be able to ignore any tariff-driven price shocks. "Given the high inflation we have experienced in recent years, and the risk that long-term inflation expectations will get out of control, I believe our first priority must be to keep long-term inflation expectations stable," he said.