Federal Reserve Bostic: Bold moves in 'any direction' are not cautious

Odaily Planet Daily News: Federal Reserve's Bostic said that the uncertainty surrounding the Trump administration's tariffs and other policies has brought the US economy to a "big halt", and he suggested that the Fed hold its fire until the situation becomes clearer. He said, "The key to where the economy will fall depends on the details of where policies will fall." "Because we don't know yet, that's another reason why I think taking policy actions too boldly in any direction is imprudent." Bostic said that tariffs may push up prices, which means it may take longer than he previously imagined to bring inflation back to the Fed's 2% target, possibly until 2027. He said that at the same time, economic growth may slow down, and this year's GDP growth rate will exceed 1%, but less than half of the recent growth rate. Bostic did not say whether he still believes that the Federal Reserve will cut interest rates once this year, which he expressed in March. (Golden Ten)