Key takeaways: Loretta Mester predicts slowing U.S. economic growth due to rising tariffs. The Federal Reserve will adjust monetary policy in response to inflation changes and job market trends. New tariffs pose a significant risk to unemployment, market spending, and overall economic stability. Mester’s concerns stem from the potential impact of higher import costs on consumer prices and business expenses. She anticipates a growth rate around 2%, with inflation and unemployment playing crucial roles in shaping monetary policy decisions. Mester acknowledges that tariffs will likely lead to stock market declines and rising consumer prices, potentially further exacerbating economic uncertainty.