#PowellRemarks During the FOMC (Federal Open Market Committee) meeting on June 17 and 18, 2025, the Federal Reserve decided to maintain the federal funds rate in the range of 4.25% to 4.50%, a 'wait and see' stance amid economic uncertainties, especially regarding Trump's 'Liberation Day' tariffs. There were no surprises in monetary policy, but important signals were highlighted. According to economic projections, officials anticipate two rate cuts of 25 basis points by the end of 2025, likely in September and December, maintaining the March forecasts. Inflation was revised upward to 3% for 2025, with GDP growth reduced to 1.2% and projected unemployment at 4.5%. Jerome Powell, in his conference, emphasized a cautious stance, highlighting data dependence and uncertainty regarding tariff policies, which could raise inflation and curb growth. He also suggested a possible transition towards a flexible inflation targeting (FIT) approach for greater agility. The meeting reflected concerns about mild stagflation risks, with a solid labor market but signs of slowing down. Markets reacted calmly, with a less than 1% increase in major indices. Most importantly, the confirmation of two rate cuts, caution regarding Trump's tariffs, and adjustments in economic projections indicating higher inflation and lower growth were noted. The next meeting, from July 29 to 30, will be key to assessing new data.