US inflation cooled in March, offering consumers brief relief as gasoline and used vehicle prices fell. Avoiding that outcome would depend on keeping longer-term inflation expectations well anchored… Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said on April 04. Market expectations suggest a possible rate cut in June, but that depends on how tariffs affect both inflation and consumer spending.