Fed's Collins at this point the expectation is the Fed will need to hold for longer

• Tariffs will push up inflation pressures
• Tariff announcements are very significant
• Hard to invest in times of big uncertainty
• Modal view is for slower growth, not a downturn
• Would expect inflation 'well over 3%' this year due to tariffs
• At this point the expectation is the Fed will need to hold for longer
• Sees a mixed bag on longer-run inflation expectations

This is the most-clearly I've heard a Fed official spell it out. She is a voter this year too.