The Federal Reserve holds its latest interest rate meeting this week, with policymakers expecting rates to be left unchanged despite President Donald Trump's calls for interest rate cuts.

Jerome H. Powell, the Federal Reserve chair, is facing relentless attacks from the president, a lively campaign to replace him and divisions in his own ranks over when to cut interest rates.

Analysts see signs of a shift toward easing—possibly beginning in September—but with no guarantees offered after this week's meeting.