Federal Reserve Vice Chairperson Jefferson: Trade policy remains highly uncertain and requires time to evaluate

On Thursday, Federal Reserve Vice Chairperson Jefferson declined to give any details on how the Trump administration's sweeping tariffs would affect his views on the outlook for the economy and monetary policy, though he appeared to hint at some concerns that they could have a dampening effect on economic growth. "There is still a lot of uncertainty about trade, and that uncertainty will certainly weigh on household and business investment," Jefferson said in response to questions about trade policy. He said he was assessing not just the impact of trade policy, but the net impact of all new policies, including fiscal, immigration and regulation. "We're in a position where it's important to take time out and think carefully about their impact."