#FOMCMeeting The Federal Open Market Committee voted 9-2 to keep the federal funds rate at 4.25%-4.50% for the fifth consecutive meeting

Vice Chair Michelle Bowman and Governor Christopher Waller, both Trump appointees, dissented, calling for a 25-basis-point rate cut, citing weakness in the U.S. labor market and manageable inflation pressures from tariffs

Chair Jerome Powell defended the decision, noting it was data-dependent and underscored the elevated uncertainty surrounding the economic outlook

The statement acknowledged that economic growth had moderated during the first half of 2025 and that uncertainty about the outlook remains elevated