The FOMC met last week and made no meaningful changes and Chair Powell in his opening statement emphasized that uncertainty is driving monetary policy. “ The new administration is in the process of implementing significant policy changes in four distinct areas—trade, immigration, fiscal policy, and regulation. It is the net effect of these policy changes that will matter for the economy and for the path of monetary policy. While there have been recent developments in some of these areas, especially trade policy, uncertainty around the changes and their effects on the economic outlook is...
