[President of the Federal Reserve Bank of Richmond: The inflation situation in the summer will continue and monetary policy may need to be tightened] On September 24th, Richmond Fed President Tom Barkin said that from tariffs and rising prices of technology products to rising fuel and medical costs, a series of cost pressures have increased the risk of U.S. inflation becoming entrenched, which may mean the need for tighter policies. Over the summer, "it became increasingly clear to me that this issue with gas prices is going to be here for a while," Barkin said at an event hosted by the Economic Club of Washington. He also said that tariffs "will be here for a while," and that a boom in artificial intelligence construction is also weighing on demand. "By the way, you can also factor in health care costs, transportation costs, diesel fuel. There are a lot of factors to consider in terms of costs. So if inflation doesn't come down relatively quickly, then you have to face reality and admit that inflation looks like it's been going on for a while. That being the case, maybe we should do something about it. I think that's what's going on," Barkin said.