When paired with a weaker economy, cheaper rates could do little to make it an easier time for Americans to borrow money, economists and financial experts interviewed by Bankrate say. They also might not fix the tariff-led shock that’s been roiling business, consumer and investor confidence.

Recession odds are rising as Trump’s tariffs sink bond yields, oil prices, and stocks. So, too, are the odds of multiple Federal Reserve interest-rate cuts.

Tariffs set to take effect this week risk stoking even higher inflation and slower growth than expected, complicating the central bank’s decisions on monetary policy.