US EditionFed holds key rate steady, still sees two more cuts this year
- The Federal Reserve kept its benchmark interest rate steady at 4.25%-4.50% on Wednesday, marking the fourth straight unchanged meeting.
- Fed officials held rates due to uncertainty from April 2 tariffs and a mixed economic outlook, despite criticism from President Trump calling Powell 'stupid' for not cutting rates.
- Inflation cooled to 2.1% in April but is expected to rise to 3% by year-end, while growth is projected to slow from 2.5% last year to 1.4% this year.
- The Fed projects unemployment will rise from 4.2% to 4.5% this year and foresees two interest rate cuts by year's end based on evolving economic data.
- The decision to hold rates steady amidst tariff concerns suggests cautious policymaking focused on balancing stable prices and maximum employment.
70 Articles
70 Articles
Fed stands pat on rates: Trump blasts Powell, renews call to lower borrowing costs
WASHINGTON — Federal Reserve officials expect inflation to worsen in the coming months but they still foresee two interest rate cuts by the end of this year, the same as they projected in March. The Fed kept its key rate unchanged for the fourth straight meeting Wednesday, and said the economy is expanding at “a solid pace.” Changes to the Fed’s rate typically — though not always — influence borrowing costs for mortgages, auto loans, credit card…
Federal Reserve (Fed) officials left interest rates unchanged and continued to point to two cuts in 2025, saying that uncertainty about economic prospects was still high, although it had declined.The Federal Open Market Committee (FOMC) unanimously decided on Tuesday to maintain the federal funds reference rate at a range of 4.25-4.5 percent, as at all meetings this year. Those responsible also lowered their estimates of economic growth for this…
Herald Bulletin
Wall Street ends mixed after the Fed says it's still waiting to see the effects of Trump's tariffs
U.S. stocks drifted to a mixed finish after the Federal Reserve indicated it may cut interest rates twice this year, though it’s far from certain about that. The S&P 500 finished nearly unchanged on Wednesday after flipping between modest gains…
Trump ramps up attacks against Jerome Powell
U.S. stocks suffered a bad day on Monday after President Trump escalated his attacks on Fed Chair Jerome Powell as uncertainty surrounding Trump’s global tariffs continued. NBC News’ Christine Romans reports on the sparring between Trump and Powell.
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