The US Federal Reserve is expected to keep its key interest rate on hold at least until Chairman Jerome Powell's term ends in May, with most economists now seeing little room for a rate cut in the near term.
The US economy's continued strong growth and inflation still above the Fed's 2% target reinforce the view that the central bank should be cautious before easing monetary policy.
Policy uncertainty has also increased as President Donald Trump continues to criticize Powell and at the same time the threat of a criminal investigation into the Fed chairman has raised concerns about the institution's independence.
While there is no clear consensus on the direction of rates after May, a small majority of economists expect rate cuts to resume under the Fed's new leadership.
In the medium term, the US economy is expected to continue growing around 2%, supported by investment in technology and fiscal stimulus, although inflation risks staying higher for longer.
