The Fed should not commit to further interest rate cuts until it is clear whether the Trump administration's tariff policies lead to persistent inflation or a less serious, one-time adjustment in prices,

Jerome H. Powell, chair of the Federal Reserve, has made clear that pre-emptive interest rate cuts are not appropriate for the moment.

Interest rates for credit cards to mortgages jumped since the Fed began fighting inflation in 2022. Here's where experts think rates are headed.