Americans are bearing the financial burden of higher costs for every type of loan, from mortgages to credit cards, after two years of interest rate hikes by the Federal Reserve. With the central bank meeting today, economists and consumers alike have one question on their minds: When will the central bank start cutting rates?

The answer: Almost certainly not this month, and probably not at its next meeting, according to Wall Street forecasters.

Most economists polled by financial data company FactSet think the Fed will keep its benchmark rate steady on Wednesday, as well as at its following meeting on May 1. Consumers holding out for lower borrowing costs may have to wait until the following month for relief, with about half of economists now penciling in the Fed’s June 12 meeting for the first cut in four years, FactSet data shows.

The Fed kicked off its flurry of rate hikes in March 2022 as inflation soared during the pandemic, reaching a 40-year high in June of that year. Although inflation has rapidly cooled since then, it remains higher than the Fed would like, which is why economists believe the central bank will keep rates steady this week.

That doesn’t mean that the Fed won’t say anything noteworthy. Experts said the Fed’s latest economic outlook could provide hints about when rate relief might be in the cards.

“The Fed is going to be taking a lot of the oxygen out of the room this week as they conclude their March meeting on Wednesday afternoon,” said Sam Millete, director of fixed income at Commonwealth Financial Network, in an email. “We’ve seen some mixed economic data to start the year. It’s going to be interesting to see how the Fed reacts to that, especially in Fed Chair Jerome Powell’s post-meeting press conference.”

Here’s what to know about Wednesday’s Fed meeting and what it means for your money.

When is the Fed meeting this week?

The Federa