Christopher J. Waller argued that the effect of tariffs on prices could be short-lived, but he warned about a bigger hit to growth.

Several Federal Reserve officials in separate speeches Thursday expressed the view that the U.S. central bank needs to make sure to throw a wet blanket over inflation expected to result from higher tariffs.

Key Takeaways Federal Reserve officials are bracing for President Donald Trump's tariffs to impede both of the central bank's goals of keeping inflation in check and employment high.Fed officials said tariffs could raise consumer prices,