1052 ET - Chair Powell has a speech tomorrow and he is likely to "signal the Fed is interpreting the effect of tariffs cautiously and is going to wait for more information," before cutting interest rates, Comerica's Bill Adams says. "The Fed will probably see higher tariffs as a reason against cutting," in the near term, he says. Officials projected two cuts this year, in March. Adams sees the Fed rushing to cut only if unemployment rises closer to 5%, up from 4.1% in February's payrolls. "If the job market weakens modestly, but inflation goes back above 4%, it will become a lot harder for the Fed to justify cuts." (paulo.trevisani@wsj.com; @ptrevisani)

(END) Dow Jones Newswires

April 03, 2025 10:53 ET (14:53 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.