(Reuters) -Traders on Wednesday sharply trimmed their bets on Federal Reserve interest-rate cuts after U.S. President Donald Trump said he was further increasing tariffs on China but pausing for 90 days the big tariff increases he had announced last week for most other countries.

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.

Investing.com -- Federal Reserve policymakers remained cautious on future rate cuts, weighing growing concerns about tariffs likely boosting inflation while simultaneously hurting economic growth, according to the minutes of the Mar. 21-22 meeting released on Wednesday.