While Federal Reserve policymakers aren’t expected to lower interest rates on Wednesday, questions about potential rate hikes have entered the conversation. A team of analysts at Barclays said Tuesday they still expect slightly lower rates over the course of 2025.

The Fed’s rate pause is expected to stay, despite Trump’s calls for cuts. Find out why equity markets could see volatility with fewer rate cuts in 2025.

Faced with a solid economy and mounting inflation concerns, the U.S. central bank has said it will “move cautiously” on cutting interest rates.