Investing.com - U.S. stock futures edged higher on Thursday as markets assessed a cautious tone from the Federal Reserve in the central bank’s latest interest rate decision. The Fed signaled that it will stick to a wait-and-see approach to further policy moves, as uncertainty around the effects of President Donald Trump’s tariffs clouds the wider economic outlook. Meanwhile, quarterly earnings from a range of companies, including FedEx (NYSE:FDX) and Nike (NYSE:NKE), are due out, and Nvidia (NASDAQ:NVDA) CEO Jensen Huang tells the Financial Times that the semiconductor titan will shell out hundreds of billions of dollars on U.S.-made chips over the next four years.1. Fed decisionThe Federal Reserve chose to leave interest rates unchanged as expected at its latest policy meeting, noting that it will take a cautious approach to future decisions due to uncertainty around President Trump’s tariff plans.The comments reiterated a wait-and-see attitude the central bank adopted earlier this year as policymakers fret about the potential impact of the levies on inflation and the broader economy.The Fed slashed its 2025 growth projection and flagged that the tariff turmoil was starting to increase wider uncertainty.“Inflation has started to move up,” Fed Chair Jerome Powell said, warning that “there may be a delay in further progress over the course of this year.”Still, the Fed chose not to price in a prolonged surge in prices or a slowdown in growth. Powell also stressed that the outcome of Trump’s tariffs remains murky, suggesting that officials will likely move to calibrate monetary policy based on the impact of the trade tensions.