No change in interest rates is expected when the Federal Open Market Committee is scheduled to set rates again on March 19.

According to recently released minutes of the 28-29 January meeting, officials said President Trump's proposed tariffs and mass deportations of migrants, as well as strong consumer spending, were factors that could push inflation higher this year.

Officials are debating when to restart interest rate cuts, as high prices linger and Trump’s policies add to economic uncertainty.

The US Federal Reserve is expected to cut interest rates twice in 2025, which could boost Bitcoin’s price as investors favor riskier assets because of their potential for higher returns.

Participants at the U.S. central bank's January 28-29 meeting "generally pointed to the upside risks to the inflation outlook," rather than risks to job market, according to the minutes from the meeting,

Federal Reserve policymakers noted the potential for higher tariffs to contribute to inflation remaining above the central bank's 2% target rate in the minutes from their last meeting.

The decision last month to leave the benchmark federal-funds rate at its current level around 4.3% followed rate cuts at three consecutive meetings—beginning in September, when

Federal Reserve officials in January agreed they would need to see inflation come down more before lowering interest rates further, and expressed concern about the impact President Donald Trump’s tariffs would have in making that happen,