More from Bostic: Businesses are not confident in their outlook at this point

• Businesses are uniformly saying they will pass on the cost of tariffs
• There is an outcome where the Fed might look through tariffs but also one where it could affect price expectations
• Businesses say pricing power is in decline. It would be a surprise if it quickly flipped
• Says he doesn’t expect enough clarity by March to adjust interest rates
• To cut rates again would want to see the housing market slow

US equities are near the best levels of the day.

This article was written by Adam Button at www.forexlive.com.