Federal Reserve official sees signs of slowing economy but not ready to cut rates

Read Federal Reserve official sees signs of slowing economy but not ready to cut rates on WALY Radio

Federal Reserve official sees signs of slowing economy but not ready to cut rates

WASHINGTON (AP) — A top Federal Reserve official said Friday that massive uncertainty created by President Donald Trump’s tariffs has caused some businesses to cut back on hiring and spending, threatening to slow the economy, but he added that it’s not yet clear whether the central bank should cut its key interest rate.Tom Barkin, president of the Federal Reserve’s Richmond branch, said businesses have turned cautious, though are not yet engaging in steep job cuts or other behavior typical of a recession.“The way I’ve been describing it is, it’s really hard to drive when it’s foggy,” Barkin said in remarks ..