Federal Reserve Chairman Jerome Powell is set to take the stage on Friday in the wake of the latest snapshot of the U.S. labor conditions and another round of surprisingly robust tariff hikes from the White House.

In March, the Fed voted to hold its benchmark interest rate steady while noting the issues over trade policy. Other Fed officials in recent days have expressed support for staying in a holding pattern until policy issues become clearer, though markets are pricing in four or five cuts this year.