Fed's Barkin expects Q1 year-on-year inflation will come down 'significantly'

Feb 5 (Reuters) - Richmond Fed President Tom Barkin said on Wednesday he expects annual inflation rate figures will come down "significantly" in the first quarter as higher figures from a year earlier drop out of the calculation.

Barkin, speaking on the sidelines of a Conference Board event in New York, said he also does not see a strong case for a rate hike anytime soon, with the economy not showing signs of overheating.

Asked about the effects of potential new tariffs from the Trump administration, Barkin said he does not expect it to result in a rapid reshoring of U.S. manufacturing to domestic factories.