Federal Reserve Bank of Chicago President Austan Goolsbee cautioned on Thursday that the bar for adjusting monetary policy is now "pretty high," suggesting the Federal Reserve should "wait and see" before making a move on the interest rates.
Goolsbee emphasized the need to keep all policy tools on the table, given the uncertain economic outlook, stating that new tariffs could stoke inflation and dampen economic momentum. Speaking to reporters after an event at the Economic Club of New York, he noted that current tariff levels cannot be underestimated, even under United States President Trump's announced pause.
