The Federal Reserve is expected to hold interest rates steady despite significant pressure from President Trump to cut them. This decision comes as the Fed faces intense scrutiny and mixed economic signals, with some members expressing potential dissent during the upcoming July meeting. Economists have largely ruled out any immediate rate cuts, indicating that the Fed is navigating through tariff uncertainties and a divided outlook within its ranks. As Jerome Powell prepares to address the situation, the focus remains on how the Fed will manage expectations and whether future cuts may be indicated.