#FOMCMeeting The Federal Open Market Committee held rates at 4.25–4.50%, maintaining its “wait‑and‑see” stance amid easing inflation and a firm labor market. Ongoing tariff increases and global tensions prompted caution, with policymakers keen to assess economic fallout before risking rate cuts  . Markets expect the first cut around September, though some analysts advocate sooner to support jobs . Chair Powell faces mounting political pressure, notably from President Trump, but the FOMC remains data‑driven, awaiting clearer signals on inflation, trade, and employment before adjusting policy.