Fed's Goolsbee said the lack of noticeable inflationary pressures since Trump imposed tariffs on April 2 could allow the Fed to resume cutting interest rates. He recalled that the Fed expected to lower interest rates at the beginning of the year and paused its rate cuts, mainly because of policy uncertainty. "If we don't see inflation as a result of these tariff increases, then in my opinion we never left what I call the golden path before April 2," Goolsbee said, comparing the tariffs to "throwing a lot of dust in the air, so it's hard to see whether you're still on the path." "If there's no dust in the air, then I think we should go ahead and do (rate cuts)."