#FOMCMeeting

The Federal Open Market Committee (FOMC) meeting is currently underway, having started on May 6 and concluding on May 7. Here's what's important to know¹ ²:

- *Meeting Schedule*: The FOMC meeting began yesterday, May 6, and concludes today, May 7, with the policy statement release at 2 pm EST.

- *Interest Rate Decision*: The FOMC is expected to hold interest rates steady at 4.25%-4.50%. There's a 97.3% probability of no rate cut this time around.

- *Key Discussion Points*: Fed Chair Jerome Powell's press conference, starting at 2:30 pm EST today, will likely focus on the impact of President Trump's tariffs on the economy and monetary policy.

- *Economic Insights*: Powell may discuss the labor market's health and the trajectory of the broader economy in light of recent tariffs and economic data.

- *Market Expectations*: The probability of a 25 basis point rate cut at the June 17-18 Fed meeting has decreased to 29.4% from 60.5% a week ago.

*Recent Economic Indicators:*

- *10-year Treasury Yield*: The yield on the 10-year Treasury note was 4.35% recently, trending higher after a stronger-than-expected April nonfarm payrolls report.

- *Tariffs' Impact*: Warren Buffett recently expressed concerns about using trade as a weapon, stating it could lead to negative attitudes in the US and globally.

*What's Next:*

The FOMC's decision and Powell's press conference will provide valuable insights into the Fed's stance on monetary policy and the economy's future direction.