Musallam: Tariff substitutes will not change the outlook on the economy

According to Jin Shi reports, 2028 FOMC voting member and St. Louis Fed President Bullard stated in an interview with Fox Business that if the Trump administration maintains most tariffs through other means, his outlook on the economic prospects will not change significantly. He also mentioned a desire to understand whether companies will receive tariff refunds and the amount of those refunds. Regarding the possibility of interest rate cuts this year, Bullard stated that the Fed's benchmark interest rate is currently at or below the "neutral rate" level.