PANews reported on February 25 that Chicago Fed President Austan Goolsbee said on Monday evening that the Fed needs clearer information before cutting interest rates. He said: "If the government enacts policies that push up prices, then, by law, the Fed must take that into account."

Goolsbee also said auto parts suppliers have expressed concerns about tariffs. More clarity is needed before the Fed cuts rates again. What the whole-of-government policy package entails has yet to be determined, and the Fed has to take a wait-and-see approach.