U.S. businesses may have run out of strategies to delay changing prices or employment in response to higher import taxes, with the economy possibly on the brink of a wave of price increases, Atlanta Federal Reserve President Raphael Bostic said Tuesday.

"One thing that we've heard is that a lot of the tariff impact to date has actually not shown up in the numbers yet. There's been a lot of front-running, building inventories and all those sorts of things. And we are hearing from an increasing number of businesses that those strategies ... are starting to run their course," Bostic said on the sidelines of an Atlanta Fed conference in Florida.

"If these pre-tariff strategies have run their course, we're about to see some changes in prices, and then we're going to learn how consumers are going to respond to that," Bostic added.