With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves.

The U.S. banking system’s $3.3 trillion cash raises concerns over inflation. Read why policies may lead to new inflationary pressures despite Fed efforts.

It’s a huge frustration for all the folks that were excited to jump in and buy homes, once the Feds started cutting interest rates,” said Lara Rhame, chief economist at FS Investments.