Allspring's analyst Matthias Scheiber said that due to the ongoing uncertainty surrounding tariffs and the continued strength of the U.S. labor market, the Federal Reserve has taken a "wait-and-see" approach to interest rates, as widely expected by people.The multi-asset solutions manager said, "From our perspective, the next possible window for the Federal Reserve to cut rates will be in September." Allspring expects that if the inflation rate continues to decline towards the target level of 2.0%, the Fed may cut rates twice this year.