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Amid a war in Iran, inflation\u00a0pressures, a weakening job market and an<\/strong> uncertain outlook for tariff policy, Federal Reserve<\/a> officials will meet next week and announce a decision on interest rates. <\/p>\n The federal funds rate, set by the Federal Open Market Committee, is the rate at which banks lend to one another overnight, but it also has a trickle-down effect on many consumer\u00a0borrowing and savings rates<\/a>.<\/p>\n For now,\u00a0experts think the central bank will stay on hold. Futures market pricing is implying\u00a0almost no chance of a rate cut, according to the CME Group’s\u00a0FedWatch<\/a>\u00a0gauge.\u00a0<\/p>\n “Fed officials will sit on their hands until they get some clarity around how the war with Iran is playing out and which of its mandates, low and stable inflation or full-employment, is most in jeopardy,” said Mark Zandi, chief economist at Moody’s. “That could take weeks, if not two to three months.”<\/p>\n For consumers caught in the crosshairs, that means there will be little relief to come.\u00a0“Anyone expecting the Fed to ride in and save the day anytime soon is likely going to be disappointed,” said Matt Schulz, chief credit\u00a0analyst at LendingTree.<\/p>\n<\/div>\n