The Federal Reserve is likely to resume cutting interest rates in June and could reduce short-term borrowing costs again in September, traders bet on Tuesday as they took on board the implications of a widely watched survey that showed consumer confidence dove this month,

No change in interest rates is expected when the Federal Open Market Committee is scheduled to set rates again on March 19.

Officials are debating when to restart interest rate cuts, as high prices linger and Trump’s policies add to economic uncertainty.

Mounting economic uncertainty is fueling speculation that the Federal Reserve may be compelled to resume cutting interest rates sooner than previously anticipated. Traders are increasingly betting on a June rate cut,