Economists anticipate that tariffs imposed during the Trump administration's trade wars will finally begin to impact inflation data, potentially appearing in upcoming reports. Despite the expected inflationary pressure, the Federal Reserve might still consider cutting interest rates. The absence of significant inflation linked to these tariffs has been a point of discussion, but analysts suggest the delayed effects are poised to materialize. This situation presents a complex scenario for the Fed, balancing the need to manage inflation with potential economic stimulus through rate cuts.