WASHINGTON, D.C. — Federal Reserve Chair Jerome Powell is expected to speak later today as the Fed concludes its latest two-day monetary policy meeting. His comments come as questions grow about the impact of U.S. tariffs and inflation on the economy.

Business reporter Jason Brooks says Powell is likely to hold off on any rate cut signals. “So-called ‘soft-data’ covering sentiment and confidence surveys has been steadily weakening with consumers and businesses signaling weaker spending plans,” Brooks said.

Many analysts are concerned that higher tariffs could drive prices back up. “Federal Chair Jerome Powell is probably going to emphasize the uncertainty that tariffs can have on the economy. He has repeatedly said that the central bank wants to make sure that inflation is tamed before resuming rate cuts,” said business analyst Jill Schlesinger.

Some data also shows Americans are starting to spend less this year, adding to the economic uncertainty.