Yes, the Federal Reserve could cut interest rates later this year. Or, maybe it won't. In any case, a Fed reduction offers no guarantee that mortgage rates will go down.

There is a great deal of uncertainty out there, making it quite difficult to forecast with confidence,” the Atlanta Fed president wrote in a letter published Tuesday.

The uncertainty Bostic referred to was the one arising from President Donald Trump's aggressive tariff policy. The banker said the Fed will have to wait and see how the heightened