Bowman is the second central banker in recent days to suggest tariffs are likely to have a temporary and muted impact on prices.

A top Federal Reserve official who resisted an aggressive cut last year said she is open to easing interest rates as soon as next month, in a sign support is building among policymakers for a looser monetary stance.

Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House.