Comments from the San Francisco Fed President in a Bloomberg TV interview:
- Need to see if data is transitory or not
- Need to see if forces slowing in a meaningful way
- Markets are trying to think about the Fed reaction function
- Too early to say if rate cut is needed or what size
- Not seeing much pass-through on tariffs to final prices
- Trade uncertainty is headwind holding back economy
- Tariffs seen as modest impact on inflation, growth
- Companies are shelving margin projects due to trade tensions
More to come