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"Tariff policy is impossible for us to predict and doesn't have a clear goal. We want more stability."

(Reuters) -Federal Reserve Bank of Boston President Susan Collins said on Thursday that Trump administration tariffs will drive up U.S. inflation but it is unclear how persistent that upward pressure will be. "It looks inevitable that tariffs are going to increase inflation in the near term" and it seems more likely than not right now the jump will be short-lived, she said in an appearance in Boston. But "there are risks" the higher price pressures could prove more enduring, she noted, and the details and reactions of those targeted by the tariffs matter a lot in determining how much prices will be affected.

(Bloomberg) -- Venezuelans are snapping up dollars, sending the local currency crashing to record lows as concern mounts that the Trump administration is throttling the country’s oil industry and tipping the economy back into crisis.Most Read from BloombergWhy Did the Government Declare War on My Adorable Tiny Truck?Gold-Rush Fever Returns to Historic New Zealand Mining TownHow SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impact.These US Bridges Face High R

The Federal Reserve's current "moderately restrictive" monetary policy is right for an environment with an abnormal amount of uncertainty and fast changes taking place in U.S. government policy, Richmond Fed President Tom Barkin said on Thursday. Barkin, in prepared remarks for an economics lecture at Washington and Lee University, did not directly address the potential fallout from the 25% auto tariffs announced on Wednesday by President Donald Trump. But like other Fed officials of late, Barkin was at least entertaining the idea that the suite of tariffs being rolled out by Trump could lead to higher-than-expected inflation, though the impact of that could also be offset by tax and regulatory policies still to come.

President Donald Trump's latest round of tariffs will likely push up the price of cars and could keep inflation pressures high at least through this year.

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The U.S. Congressional Budget Office on Thursday projected significant increases in federal budget deficits and debt over the next 30 years, in part due to rapidly rising interest costs, as it sketched out sluggish economic growth and a shrinking workforce. The U.S. public debt meanwhile is seen rising alarmingly, to 156% of GDP in 2055 from 100% in 2025. As the non-partisan budget analyst for Congress, the CBO bases its projections on current law, which could change significantly in the short-term.