In the press conference following the Fed’s decision to keep rates unchanged, Powell hesitated to guide toward a rate in the coming months. He struck a hawkish tone, according to a note by Bank of America’s macroeconomics team, putting a damper on investor hopes that the FOMC’s next meeting in September could bring a rate cut.

President Trump has pressured Fed Chair Jerome Powell to lower interest rates. Here's what the experts think will happen at this week's monetary policy meeting.