Policy implications are unclear, with Fed officials reiterating the need to "wait"

The Federal Reserve's Cleveland Fed President Hamak and San Francisco Fed President Daley said late Tuesday local time that given the uncertainty surrounding the impact of the Trump administration's policies, the best thing for the Federal Reserve now is to wait before making any further policy decisions. In a joint appearance at the Atlanta Fed meeting, the two local Fed presidents reiterated that it is difficult to know how monetary policy should respond as trade policy remains uncertain and it is difficult to judge the direction of the economy. (Jin Ten)