Chicago Fed President Austan Goolsbee suggests the Federal Reserve should consider cutting interest rates once the uncertainty surrounding tariffs clears. He acknowledges the current ambiguity regarding the inflationary impact of tariffs and believes a clearer picture is needed before making any adjustments to monetary policy. Goolsbee reassured that he doesn't anticipate a repeat of the stagflation experienced in the 1970s, a period characterized by high inflation and slow economic growth. His statement reflects the Fed's ongoing monitoring of economic indicators and its cautious approach to navigating potential inflationary pressures stemming from trade policies. The central bank aims to balance supporting economic growth with maintaining price stability. ```