#PowellRemarks

The Federal Reserve of the United States kept interest rates stable for the fourth consecutive meeting on Wednesday, forecasting higher inflation and cooler growth this year, as President Donald Trump's tariffs begin to take hold and geopolitical uncertainty looms.

The central bank also released its latest quarterly projections for the economy and interest rates. It expects notably weaker growth, higher inflation, and slightly higher unemployment by the end of this year than it had forecasted in March, before President Donald Trump announced widespread tariffs on April 2. Most of those tariffs were then postponed on April 9. The Fed also indicated that it would only cut rates once in 2026, instead of the two cuts projected in March.