#FOMCMeeting Officials of the Federal Reserve were in a communication "blackout" for the past week ahead of the meeting, but before going silent, members of the Federal Open Market Committee stated that they wanted to see how the economy reacts to Trump's tariffs before taking any political action.

The tariffs pose a double threat to the Federal Reserve's dual mandate of maintaining low inflation and high employment: not only can import taxes raise prices, but they can also harm the economy, potentially increasing unemployment.