#PowellRemarks
The Federal Reserve kept the interest rate at 4.25-4.5% for the fourth time despite pressure from Trump, who described Powell as slow and demanded a rate cut.
Inflation is expected to reach 3% this year due to tariffs. Powell confirmed that the consumer will bear the largest part of the cost.
Seven officials at the Federal Reserve do not expect any rate cuts this year, while the general average expects two cuts.
Economic growth is expected to drop to 1.4%, and unemployment will reach 4.5% with a decline in consumer spending.
The conflict in the Middle East may raise energy prices, but Powell is confident that its impact is temporary.