🔥Jerome Powell's Remarks
💥Monetary Policy Update
🔹️The Fed kept interest rates steady at 4.25%-4.5% based on current economic data.
🔸️Powell emphasized the Fed's preparedness to act if necessary.
💥Economic Insights
🔹️Inflation:
Expected to pick up due to new tariffs, with the Fed needing more time to assess the impact.
🔸️Economic Growth:
The economy is solid, but the Fed is attentive to risks.
🔹️Unemployment:
Remained 'solid' and 'low' at 4.2%.
💥Future Projections
🔹️Rate Cuts:
Two potential rate cuts in 2025, with the first possibly in September.
🔸️Economic Projections:
Lower GDP growth (1.4%) and increased inflation expectations (3%).