The Federal Reserve is widely expected to hold interest rates steady at its meeting this week, but investors will be watching for something else — whether central bank policy makers are still committed to two rate cuts this year.

CNBC Fed Survey continued to indicate weaker growth and higher inflation than at the beginning of the year and most say uncertainty over tariff policy remains high. The Fed is expected to stand pat at the June meeting and not cut rates until September.

Interest rates for credit cards to mortgages jumped since the Fed began fighting inflation in 2022. Here's where experts think rates are headed.