Atlanta Federal Reserve President Raphael Bostic said on Thursday the U.S. central bank should still be able to lower interest rates by a half a percentage point this year, though there remains extensive uncertainty about the impact of President Donald Trump's trade and immigration policies.

The market’s expectations for the Federal Reserve’s next move on interest rates held steady after the publication of minutes from the Federal Open Market Committee's January meeting. Traders are still expecting an extended pause on rate cuts with the next quarter-point reduction coming in July,

Atlanta Federal Reserve president Raphael Bostic told Yahoo Finance that interest rate cuts are still on the table this year as policymakers assess how the economy is evolving and digest new policies from the Trump administration.