Federal Reserve to make first interest rate decision amid trade war started by Trump's tariffs

The Federal Reserve is going to announce its first interest rate decision since the ongoing trade war began, sparked by tariffs implemented by President Donald Trump.

This gesture comes less than two weeks after Fed Chairman Jerome Powell stated that tariffs would likely increase prices, but Trump's economic policies are still getting in place.

"We are focused on parsing the signal from the noise as the situation evolves," Powell said, according to ABC News. "We are not in a hurry."

The CME FedWatch Tool predicted that investors expect the central bank to not change rates. 

Trump earlier this month placed 25% tariffs on Canadian and Mexican goods, resulting in Canada and the European Union imposing retaliatory tariffs.