Even so, the Fed will almost certainly leave its key rate unchanged at about 4.3% when it meets Tuesday and Wednesday. Powell and many of the other 18 officials that sit on the Fed’s rate-setting committee have said they want to see how Trump’s tariffs affect the economy before making any moves.

Federal Reserve Chair Jerome Powell will push back at his press conference on Wednesday on calls from the White House and many on Wall Street for interest-rate cuts, economists say.

President Donald Trump insisted he doesn’t plan to fire Federal Reserve Chair Jerome Powell despite his sustained criticism over the pace of interest rate cuts.