Goldman Sachs reports that on March 25, Federal Reserve Board member Christopher Waller stated that to address inflation significantly above the Fed’s 2% target, policymakers may need to keep interest rates steady for some time. “Although I hope that as the impact of tariffs on prices diminishes later this year, inflation will decline, I want to see continued evidence of a slowdown in the inflation of goods and services before considering further rate cuts, provided that labor market conditions remain stable,” Waller said. He supported the Fed’s decision last week to keep the benchmark policy rate unchanged. He also pointed out that the Middle East situation presents “additional risks.” Rising oil prices often quickly pass through to gasoline prices, which could be particularly unfavorable for low- and middle-income households.