Most economists agree that the administration\u2019s tariff plans \u2014 which include a 10% \u201cbaseline\u201d rate on imports from most countries \u2014 will put upward pressure on prices and cool economic growth, at least in the short term.<\/p>\n

That would keep inflation well away from the Fed\u2019s long-term target of 2%, and likely prevent policymakers from cutting rates in the next few months.<\/p>\n

\u201cThey\u2019re not going to react because Trump posted that they should be cutting,\u201d Ms. Roth said in an interview, adding that doing so would be \u201ca recipe for a disaster\u201d for the U.S. economy.<\/p>\n