U.S. central bankers on Wednesday signaled they are likely to deliver two quarter-point interest-rate cuts later this year, the same median forecast as three months ago, even as they forecast slower economic growth and higher inflation.

The Federal Reserve on Wednesday kept interest rates unchanged as central bank officials weigh the impact of President Donald Trump’s aggressive economic agenda.

Two months into the second Trump administration, the Fed decided to keep the policy interest rate unchanged. That stance will likely continue, though most Fed policymakers expect otherwise.