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The Fed will likely pause its rate cuts this week. After that, uncertainty over Trump's tariff, immigration plans make forecasting rates a dice roll.

LONDON (Reuters) -Oil prices retreated on Monday after the U.S. pulled back from initial sanctions threats against Colombia, reducing immediate concern over oil supply disruptions, though U.S. President Donald Trump's muscle-flexing is keeping markets twitchy. Brent crude futures fell 60 cents, or 0.8%, to $77.90 a barrel by 1300 GMT. The U.S. swiftly reversed plans to impose sanctions and tariffs on Colombia after the South American nation agreed to accept deported migrants from the United States, the White House said late on Sunday.

Consumers’ growing pessimism could trigger a pullback in discretionary purchases, directly weighing on trucking demand. The post Inflation fears, housing prices startle consumers appeared first on FreightWaves.

Though the decision only applies to specific bid protests, it opens the door for other challenges and hobbles the government’s ability to issue more project labor agreements, a construction attorney said.

The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates. Fed officials, led by Chair Jerome Powell, have cut their rate for three meetings in a row, to about 4.3%, from a two-decade high of 5.3%. While the two-day meeting that ends Wednesday may be uneventful, it nevertheless kicks off what is likely to be a turbulent year for the Fed. Trump, last Thursday, made clear he expects to comment on interest-rate policy and said, “I know interest rates much better than they do."

Global economic policymakers had been braced for an economic firestorm from the new U.S. administration but instead got a surprisingly restrained start from Donald Trump, who remains big on rhetoric but more cautious on action - for now. Trump had hinted at sweeping trade barriers from the very beginning of his term. The threat of sweeping tariffs, a central plank of his campaign promises, had raised concerns of a resurgence in inflation.

These are today's mortgage and refinance rates. Rates are inching up. Sentiments after this week's Fed meeting could cause rate changes. Lock in your rate today.