According to a report by Golden Jubilee, it is expected that the Federal Reserve will maintain policy rates unchanged this week, but Barclays economists have warned that the impact of tariff shocks may be more severe than shown by the FOMC in its Summary of Economic Forecasts (SEP). They stated in a research report, 'We believe that the risks this year tend to postpone interest rate cuts.' Barclays expects the Federal Reserve's SEP to show an increase in inflation and unemployment expectations, as well as a decrease in GDP growth, but Barclays economists expect GDP slowdown and inflation increase to be greater than SEP. They added, "Although we expect SEP to show that the benchmark interest rate will be lowered once this year, we still believe that the committee will ultimately cut rates twice, by 25 basis points each, in June and September of this year
