Atlanta Fed President Raphael Bostic, a member of the 2027 FOMC voting committee, said the economic impact of President Donald Trump's policies and other factors could take months to become clear, suggesting officials are likely to keep rates steady until at least late spring. Mr. Bostic reiterated that Mr. Trump's policy changes could affect the economy in different ways, adding to economic uncertainty. He said the administration's new policies were putting the US economy in "incredible volatility" and that he believed the Fed was unlikely to have enough clarity before late spring or summer to decide on the path of interest rates.