#PowellRemarks

Federal Reserve Chair Jerome Powell maintained the federal funds rate at 4.25–4.50%, emphasizing a data-driven, wait‑and‑see approach amid persistent inflation and trade‑driven uncertainties like tariffs and geopolitical tensions . He noted core PCE inflation is now forecast at 3% by year-end, with GDP growth slowing to ~1.4% and unemployment rising to **4.5%** . The Fed projects two rate cuts in 2025, but internal forecasts vary—some officials see fewer . Powell stressed risks to data accuracy, warning that recent budget cuts could hamper critical economic measures . He reaffirmed Fed independence in the face of political pressure.