- Full speach here
Dhingra is an uber dove. She's been advocating for rate cuts, even aggressive ones, for years. Large tariffs might indeed be negative for growth and prices. But if you run expansionary policies into those increases, especially when you've been above target for years, then from a risk management perspective you can't really cut rates on a forward looking basis.
You risk making those increases permanent. In my opinion, being less forward looking and waiting for more clarity makes much more sense.
