#FOMCMeeting Open (FOMC):🔺✅
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 Gaza Time) 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 Rate Cut: Although a rate cut is not expected at this meeting, markets anticipate a possibility of rate cuts later in 2025, with July seen as a more likely time for the first cut.
* Economic Context: The meeting comes amid mixed economic signals, including a surprising negative GDP in the first quarter but strong job growth in April. There is also uncertainty surrounding the impact of new tariffs.
* Trump's Influence: President Trump has publicly called for a rate cut, arguing that inflation has decreased.