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Fed Officials Pledge Rate Patience Amid Trade and Trump Pressure

  • Presidents Williams and George say policy is appropriate
  • Tariffs could push up inflation while weighing on growth
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New York Fed President John Williams speaks with Bloomberg Television.(Source: Bloomberg)

Federal Reserve officials are sticking with their pledge for patience on interest rates, shrugging off President Donald Trump’s escalating trade war and his pressure for a cut.

New York Fed President John Williams and his Kansas City colleague Esther George, who vote on policy this year, acknowledged that new tariffs on Chinese imports could affect the outlook for U.S. inflation and growth. But both saw no need for the central bank to react.