The Federal Reserve kicks off its July meeting on Tuesday, with Fed Chair Jerome Powell set to speak on Wednesday and deliver the central bank's latest interest rate decision. Markets are largely expecting the Fed to hold rates steady,

Gold prices were little changed on Wednesday as investors held back from making big bets ahead of the U.S. Federal Reserve's policy decision later in the day, while softer Treasury yields and a slight retreat in the dollar lent support.

There's no sense of imminent changes in the Fed's monetary policy mechanics. But that may not always be the case, especially as President Donald Trump, a persistent critic of the central bank who wants it to reduce interest rates, prepares to name a successor for Powell, whose term expires next May.

More jobs, more spending and continued uncertainty about tariffs. Here's how that could impact the Fed's interest rate decision this week.

Federal Reserve Chair Jerome Powell holds a news conference following the central bank's decision on interest rates.

The U.S. dollar wobbled near a one-month high on Wednesday ahead of the Federal Reserve's policy decision, while the euro was poised to snap its run of six straight monthly gains as investors counted the cost of the U.