The Federal Reserve is unlikely to cut interest rates this week despite growing concern about the state of the U.S. economy and the impact of President Trump’s trade agenda. Markets are expecting

To cool the economy and bring inflation under control, the Fed embarked on an aggressive campaign to raise the federal funds rate during 2022 and 2023. The final hike was in August 2023, with the rate settling at a two-decade high of 5.33% -- far above its pandemic-era low point of 0.13%.