(Reuters) -Chicago Federal Reserve Bank President Austan Goolsbee on Friday said the constant “drip drip” of new tariff announcements undercuts the idea that tariffs have only a one-time impact on prices, and without clarity on where they will end up the central bank will need more time to decide if rate cuts are appropriate. “We […]
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Fed’s Goolsbee: new tariff announcements may delay rate cuts
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(Reuters) -Chicago Federal Reserve Bank President Austan Goolsbee on Friday said the constant “drip drip” of new tariff announcements undercuts the idea that tariffs have only a one-time impact on prices, and without clarity on where they will end up the central bank will need more time to decide if rate cuts are appropriate.
“We need some resolution that we can count on before we can fully understand what the impact of this is,” Goolsbee said in an interview with Yahoo Finance. “Anything that makes it harder to figure out if we are on a path back to 2% inflation, anything like that is extending the timetable of when the rate cuts can happen.”
(Reporting by Ann Saphir, Editing by Franklin Paul)