The Federal Reserve kept interest rates steady at 4.25-4.50% during its meeting on June 17 and 18, citing weak inflation, strong employment, and uncertainty regarding Trump's tariff definitions and global tensions. Chairman Powell emphasized a data-driven approach, with policymakers maintaining flexibility while awaiting further insights into inflation, growth, and employment. The updated "dot plot" forecasts two rate cuts in 2025, although the timing remains uncertain amid mixed signals. The Federal Reserve's independence remains strong, despite political pressures. Investors will be watching Powell's press conference, the Consumer Price Index, retail sales, and upcoming geopolitical developments for clues on future policy shifts.