There is a great deal of uncertainty out there, making it quite difficult to forecast with confidence,” the Atlanta Fed president wrote in a letter published Tuesday.

Federated Hermes’s Steve Chiavarone crystalized the market’s view of where the Federal Reserve is heading on interest rates in one sentence.

A short-lived bump in tariff-driven inflation could pass quickly enough to allow interest-rate cuts this year, especially if levies ease, Federal Reserve governor Christopher Waller said. New trade barriers are likely to push up prices in the short term,