Federal Reserve Urged to Adopt 'Wait and See' Approach

In a recent statement, Federal Reserve Bank of Chicago President Austan Goolsbee highlighted the high threshold for any adjustments to monetary policy, advocating for a cautious stance. "Given the current economic uncertainties, it's imperative that we keep all policy options available," Goolsbee remarked.

Impact of Tariffs on Inflation and Economic Growth

Goolsbee also pointed out the potential inflationary pressures and economic slowdown that could arise from new tariffs. He stressed that even with the temporary reduction in tariffs announced by President Trump, the existing levels should not be overlooked.

Speaking after an event at the Economic Club of New York, Goolsbee's comments reflect the Fed's delicate balancing act in navigating through these challenging times.