Federal Reserve Goolsbee: No decision has been made on what action the Federal Reserve will take at its next meeting, and the threshold for rate cuts is now higher than at the previous two Fed meetings.
Mr. Kashkari said the Fed was unlikely to cut interest rates in the face of tariffs even if the economy started to deteriorate, given their impact on inflation. Mr. Kashkari said Mr. Trump's tariffs were "much higher and much broader than anticipated" and that he expected them to reduce investment and economic growth.