Federal Reserve Bank of San Francisco President Mary Daly said the US central bank may hold interest rates longer than anticipated due to inflation risks, but could yet cut later this year.

The Fed won't rush to lower interest rates if Trump's tariffs drive up inflation. Here's what that means for mortgage rates.

WASHINGTON (AP) — The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chair Jerome Powell said Wednesday.