The Federal Reserve is likely to keep its key interest rate unchanged in the coming months as it waits for widespread “uncertainty” stemming from President Donald Trump’s policies to resolve, Chair Jerome Powell said in written remarks to be delivered Friday in New York.

Powell spoke at a volatile time, with stock markets and bond yields both declining in the wake of Trump's whipsaw announcements of steep tariffs.

Investors are looking to the Fed chair for hints about the direction of monetary policy after a weaker-than-expected jobs report.