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This is obviously an extraordinarily difficult time to make economic forecasts. Nobody really knows how tariffs will effect the US economy. And beyond that, nobody knows what the ultimate state of tariffs will be, or if they'll ever settle into a predictable rate. So how do you conduct monetary policy in this environment? On this episode, recorded at the Federal Reserve Bank in Atlanta, we spoke with Atlanta Fed President Raphael Bostic. He walked us through how he's thinking about the dual mandate right now, and why he has significantly dialed back his expectations for aggressive rate cuts since the start of 2025. Read More: For Exhausted Stock Market Pros the Choice Is Buy or Stay Home (https://bloom.bg/4m9lI2O) Powell Signals 2020 Fed Framework Language on Chopping Block (https://bloom.bg/3GVKdQS) Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots (https://www.bloomberg.com/subscriptio...) See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: • Odd Lots Get the Odd Lots newsletter via https://www.bloomberg.com/account/new... And for all things Odd Lots, visit https://www.bloomberg.com/oddlots Visit our other YouTube channels: Bloomberg Television: / @markets Bloomberg Originals: / bloomberg Quicktake: / @bloombergquicktake #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: / podcasts For coverage on news, markets and more: http://www.bloomberg.com/video