Reported about 11 hours ago
The Federal Reserve decided to keep interest rates unchanged for the second consecutive meeting while adjusting its outlook for the economy, predicting higher inflation and slower growth due to uncertainties surrounding President Trump's new tariffs. Fed officials now estimate core inflation will reach 2.8% by the end of 2025, up from 2.5%, and economic growth is projected to slow to 1.7%. Chair Jerome Powell noted the challenges of balancing their dual mandate of maximum employment and price stability as the central bank navigates the impact of tariffs on the economy.
Source: YAHOO