Fed likely to leave rates alone for now

WASHINGTON -- Jerome Powell has tantalized the financial world with the prospect the Federal Reserve he leads may soon cut interest rates for the first time in over a decade.

Probably not quite yet, though.

When the Fed issues a policy statement Wednesday and Powell holds a news conference, the message will likely echo the theme the chairman struck in a speech early this month: The Fed will act if it thinks the Trump administration's trade conflicts are threatening the U.S. economy.

Powell's remarks were seen as a signal the Fed will likely cut rates later this year.