Austan Goolsbee, the president of the Federal Reserve Bank of Chicago, said that while uncertainty over fiscal policy could lead to fewer rate cuts, he still expected some rate cuts over the next 18 months. "I think it makes the environment even more confusing," Goolsbee said of other uncertainties facing U.S. policy and the economy. "I still think we're going to end up quite a distance below where we are now, but because of these uncertainties, I'm slowing down a little bit to get there."