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A number of Federal Reserve officials have indicated that two interest rate cuts this year still seem appropriate, despite ongoing economic uncertainty. This sentiment has been expressed by various members of the Federal Open Market Committee (FOMC), including Minneapolis Fed President Neel Kashkari and San Francisco Fed President Mary Daly.
This view comes amid a cooling U.S. economy and labor market, though some officials also acknowledge the potential for new tariffs to push inflation higher. The Fed is currently in a "wait-and-see" mode, evaluating economic data to determine the best course of action.
The FOMC has held interest rates steady at its recent meetings. The remaining scheduled FOMC meetings for 2025 are in September, October, and December, and any of these could be "live" for a policy adjustment.
