Fed mouthpiece: If Republicans control both houses of Congress, the Fed may revise its basic assumptions in December

Nick Timiraos, the "Federal Reserve mouthpiece," wrote that Fed officials now face a question: Will the election results lead to meaningful changes in economic demand or inflation, requiring a different policy path? Timiraos said officials will not change their policy approach until they understand President-elect Trump's reform proposals on taxes, tariffs and immigration. But if the Republicans also win control of both houses of Congress, they may begin to revise some basic assumptions at the December meeting. (Jinshi)