#FOMCMeeting Federal Reserve (Fed) officials have been quiet recently ("blackout period") before their meeting.

Before going silent, they said they would wait to see how Trump's tariffs affect the economy.

The tariffs are a double threat to the Fed’s goals:

They might increase prices (inflation).

They might harm the economy, causing higher unemployment.

Depending on what happens:

If inflation increases, the Fed may keep interest rates high.

If the job market weakens, the Fed may cut interest rates to help.