Fed is likely to hold interest rates steady, resisting Trump pressure. Here’s what that means for borrowers

Despite escalating political pressure from President Donald Trump, the Federal Reserve is expected to hold interest rates steady at its policy meeting this week.

Amid a somewhat softening labor market, inflation pressures and an uncertain geopolitical landscape, futures market pricing is implying almost no chance of a rate cut, according to the CME Group’s FedWatch gauge.

The Fed’s pause may disappoint Americans eager for lower debt payments, according to Matt Schulz, LendingTree’s chief credit analyst.

“Even so, rates on several types of loans are at their lowest levels in years and are likely to keep falling, at least for a little while longer,” Schulz said. “That’s welcome news as affordability issues continue to plague families around the country.”

Should the Fed pause as expected, Trump is likely to be the most vocal critic of the central bank’s decision.