#FOMCMeeting
Summary of the Federal Open Market Committee (FOMC) Meeting:🔺✅
Key Points:
* Meeting Date: Tuesday, May 6 and Wednesday, May 7.
* Interest Rate Decision: The committee's decision on interest rates will be announced on Wednesday, May 7 at 2:00 PM Eastern Time.
* Press Conference: Federal Reserve Chairman Jerome Powell will hold a press conference at 2:30 PM Eastern Time (9:30 PM in Deir al-Balah) on Wednesday.
* Expected Outcome: The prevailing expectation is that the Federal Reserve will keep the benchmark interest rate steady in the current range of 4.25% to 4.5%.
* Future Interest Rate Cuts: Although a rate cut is not expected at this meeting, markets anticipate a possibility of rate cuts later in 2025, with July considered a more likely time for the first cut.