Based on the latest information, here are the key details about the ongoing **Federal Open Market Committee (FOMC) meeting**:
1. **Meeting Dates**: June 17–18, 2025 .
2. **Rate Decision (Expected)**: The Fed is widely anticipated to maintain the benchmark interest rate at **4.25%–4.50%**, unchanged since December 2024. Market odds are near 100% for no change .
3. **Key Factors Influencing Decision**:
- **Tariff Uncertainty**: Impact of President Trump's trade policies on inflation and growth .
- **Inflation Trends**: May inflation ticked up to 2.4% (from 2.3% in April), but longer-term expectations eased to 3.2% .
- **Labor Market**: Gradual softening, with unemployment at 4.2% .
4. **Dot Plot & Forecasts**: The updated "dot plot" (Summary of Economic Projections) will reveal if the Fed still expects **two 2025 rate cuts** (as in March) or revises it to one cut due to tariff risks .
5. **Political Pressure**: President Trump has publicly criticized Chair Jerome Powell, demanding aggressive rate cuts and labeling him a "numbskull" .
6. **Announcement Timing**: The decision will be released at **2 PM EDT on June 18**, followed by Powell’s press conference at 2:30 PM EDT .
7. **Market Impact**: Historically, FOMC days drive significant S&P 500 returns, accounting for ~16% of annual gains .
The Fed emphasizes a "wait-and-see" approach amid economic crosscurrents .