President Trump is ploughing ahead with his tariff plans and threats, while still pushing for a cut to interest rates.

US stock futures (ES=F, NQ=F, YM=F) slip Wednesday morning after top chip stocks pushed the S&P 500 (^GSPC) to close at a record high yesterday. Meta Platforms (META) stock also snapped its 20-day winning streak on Tuesday.

Participants at the U.S. central bank's January 28-29 meeting "generally pointed to the upside risks to the inflation outlook," rather than risks to job market, according to the minutes from the meeting,

Federal Reserve officials signalled caution on cutting interest rates, emphasizing the need for further progress on inflation before making adjustments, according to minutes from their January meeting released Wednesday.

Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged. According to minutes of the Jan.

Business leaders across the country told Federal Reserve officials that they will try to pass along to consumers any higher costs resulting from potential Trump tariffs, according to minutes of the central bank’s January meeting,

Federal Reserve policymakers noted the potential for higher tariffs to contribute to inflation remaining above the central bank's 2% target rate in the minutes from their last meeting.