Global worries over an emerging "trade war" pose an uncertainty for the Federal Reserve, a group of Fed officials said Wednesday.
Atlanta Federal Reserve Bank President Raphael Bostic said the central bank needs to take a wait-and-see attitude over the impact of the Trump administration's proposed tariffs.
The levies could be challenged in court or in Congress, Bostic said.
"There has not actually been anything done yet. We have to take a wait-and-see attitude," Bostic said. "The claim that there are national security interests in these tariffs could be challenged.... The Congress could just change the law and say don't do this anymore."