Fed's Dudley is speaking in Puerto Rico
Although his comments are focused on Puerto Rico:
- he expects construction bounce Puerto Rico
- Puerto Rico need sustainable fiscal plan
He did comment briefly on the trade barriers by saying
- Trade barriers impede focus on comparative advantage
Earlier, Atlanta Fed's Bostic said that trade barriers would be broadly unhelpful. Mnuchin said that the US could carve out exemptions but there will be tariffs on steel and aluminum.