Fed Minutes: Uncertainty ‘Elevated’ as Risks of Higher Inflation and Unemployment Rise
- The Federal Reserve released minutes on May 14, 2025, from its May 6-7 meeting showing officials kept the policy rate at 4.25%-4.5% amid rising economic uncertainty in Washington.
- Officials faced increased risks of higher inflation and lower employment mainly due to President Trump's tariff increases and the resulting trade policy uncertainty.
- Nearly all 19 officials saw inflation as potentially more persistent, while many emphasized a cautious wait-and-see approach on future interest rate changes until economic effects clarify.
- The minutes indicated that officials noted a growing level of uncertainty surrounding the economic outlook, amid ongoing concerns about inflation and trade policies related to the Fed's 2% inflation target.
- The Fed's decision to hold rates suggests it will monitor trade and fiscal developments closely, delaying further easing until it sees clearer signs from the economy.
45 Articles
45 Articles
Logan Signals It May Be Quite Some Time Before Fed Adjusts Rates
Federal Reserve Bank of Dallas President Lorie Logan signaled it may take a while before officials know how the economy will respond to tariffs and other policy changes and thus how they should adjust interest rates.

Fed considered effects of tariffs, minutes show
WASHINGTON — Federal Reserve officials agreed this month to hold off on interest-rate moves while they evaluated the impact of President Donald Trump's tariffs on inflation, unemployment and the broader economy.
ThePatriotLight - Fed members signal cautious policy approach as tariff uncertainty weighs heavy By Investing.com
ThePatriotLight - Fed members signal cautious policy approach as tariff uncertainty weighs heavyFed members signal cautious policy approach as tariff uncertainty weighs heavy By Investing.com
Fed officials worried about rising inflation risks due to Trump tariffs: ‘More persistent than expected’
Federal Reserve officials agreed earlier this month to hold off on any interest-rate moves while they evaluated the impact of President Trump’s tariffs on inflation, unemployment, and the broader economy.
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