#FOMCMeeting At its March 18–19, 2025 meeting, the FOMC held the federal funds rate at 4.25–4.50%. The statement noted solid growth, low unemployment, and inflation above target; the Fed also said it would slow the runoff of Treasuries (reducing the cap from $25B to $5B per month). The updated projections still show a median of roughly two 25-bp cuts in 2025. Markets cheered: major indexes jumped (S&P 500 +~1%) on the news, and Fed Chair Powell emphasized a patient, data-driven stance amid elevated uncertainty.