With the passing of the FOMC rate decision, it has become clear that the Federal Reserve is taking a wait-and-see approach to the current situation regarding tariff policies. Although the vast majority of economists around the world have made predictions about what lies ahead, the effects have not yet been pronounced. Many of the recent tariff changes have also been revoked or put on pause for the largest industries, leaving many markets uncertain about the future. The key takeaway is that conditions will likely remain steady for now. The only other data release offering insight into what’s to come is the notable decline in U.S. retail sales, reflecting a reduction in consumer activity.