The uncertainty Bostic referred to was the one arising from President Donald Trump's aggressive tariff policy. The banker said the Fed will have to wait and see how the heightened

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.

Federal Reserve Governor Christopher Waller said on Monday that interest rate cuts remain possible later this year even with the Trump administration's tariffs likely to push up price pressures temporarily.