(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Monday said the U.S. central bank is currently in a “wait-and-see” mode and needs more clarity on the total economic impact of the Trump administration’s new policies including tariffs, immigration, tax cuts, government spending cuts, federal workforce reductions and others before it can act. “There’s […]
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Fed needs more clarity before it can go back to cutting rates, says Goolsbee
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(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Monday said the U.S. central bank is currently in a “wait-and-see” mode and needs more clarity on the total economic impact of the Trump administration’s new policies including tariffs, immigration, tax cuts, government spending cuts, federal workforce reductions and others before it can act.
“There’s a lot of uncertainty, a lot of kind of dust in the air, and before the Fed can go back to cutting the rates, I feel and have expressed that we got to get a little dust out of the air,” Goolsbee said in an interview on Chicago public TV station WTTW.
(Reporting by Ann Saphir; additional reporting by PJ Huffstutter; Editing by Leslie Adler)