Federal Reserve Bostic: It is not wise to adjust policy now

Mr. Bostic, the president of the Atlanta Fed, said the fog of uncertainty over the Trump administration's tariffs and other policies had brought the economy to a "great standstill", with households and businesses not making major investments, and he suggested the Fed should hold its fire until there was more clarity. "Where exactly the economy lands depends a lot on the details of where the policy lands," Mr. Bostic said. "Because we don't know yet, that's why I think it would be imprudent to take policy too boldly in any direction at the moment."