Trade uncertainty: US trade policy can complicate the Fed's choices

The administration's policies on immigration, for instance, will have longer-term consequences for the US economy

It has been more than two months since Donald Trump became President of the United States (US), and yet both US citizens and stakeholders around the world are still trying to understand the implications of his policies. The first economic projections by the US Federal Reserve since Mr Trump took office also reflected this. In terms of hard numbers, projections by the members of the Federal Open Market Committee (FOMC) suggest that, compared to the previous projections, they expect the inflation rate to firm up, economic growth to slow, and unemployment to increase this year. While the magnitude of change