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.

Federal Reserve Chairman Jerome Powell is holding a press conference. He is set to begin speaking at 2:30 p.m. FOUR POLICIES TRUMP IS LOOKING AT IN DECIDING RECIPROCAL APRIL 2 TARIFFS Powell is expected to announce the Fed's intention to keep interest rates steady despite some economic uncertainty on the horizon.