The Federal Reserve has decided to keep interest rates steady, maintaining the current range at 4.25 percent to 4.5 percent. This announcement came on Wednesday, with Chairman Jerome Powell explaining that the job market remains strong and inflation is still above the Fed’s target of 2 percent.
Powell also addressed concerns about the potential effects of former President Donald Trump’s tariff plan on the economy. He noted that the outcomes are uncertain but could lead to increased inflation and higher unemployment. The overall health of the economy allows the Federal Reserve to take its time and assess how these changes may unfold.
Looking ahead, the next meeting of the Federal Reserve Board is scheduled for June, where further discussions and evaluations will take place.