On June 18, 2025, Federal Reserve Chair Jerome Powell announced the Fed maintained the federal funds rate at 4.25%-4.5% for the fourth consecutive time. Despite expecting higher inflation (3% by year-end, up from 2.1% in April) and slower GDP growth (1.4%), the Fed still projects two rate cuts by the end of 2025. Powell emphasized patience due to economic uncertainties, particularly regarding tariff impacts.

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